if you go by the ceo at aramco.etting one in in terms of sales and profit. >> you have the material sector, which is whe other stocksre sabic -- performing better. trading at about 50.7% written earnings per share, you compare that to 11.3 for comparable companies. to see how the market reacts to this latest move, 6.2% on high-volume. let's get back to another important story we are following. italy, they have avoided a second reading downgrade in a -- rating downgrade in a week. from the united, the chancellor plan as his budget britain prepares for life after europe. charles, the story out of italy and the likely rally we may see, we heard earlier from the commercial bank of dubai, he was insisting we would see quite a bit of a reaction monday. what you think is priced in? >> the good news, we are seeing some deterioration in terms of rising bond yields. we are also not seen contagion. it is going to be a game of chicken between italy for the months to come. it comes together with the story of fiscal stimulus comi

because another deal was going through involving aramco.ome people thought this other deal that aramco was involved of slovic chunk chemical company was part of avoiding the i.p.o. but he said absolutely not. he will do both. jon: stephanie, obviously people will take notice of the aramco plans. build on the comments you're making, the significance of wanting to forge ahead with those i.p.o. plans. stephanie: you remember he said he had this very ambitious valuation number for the whole of aramco of $2 trillion which meant if you put 5% into public -- into public hands it would raise him $100 billion. some people raised question marks about that. we had some reporting along those lines earlier in the year saying people in the markets did not think it was valued anything like that high. we thought maybe that was one of the reasons why it seemed to be on hold. i think maybe one of the reasons that he gave us this interview was to put the record straight on that or at least give his side of the story. he said it's not on permanent hold. he sti

saudi aramco i.p.o. was already styled for a number of reasons some are technical some are more political or technical reasons well there is no transparency a studio oil reserves of saudi arabia therefore long exaggerated how much oil there is in their reserves and now to disclose it to disclose the real reserves because for an i.p.o. you need transparency this is a main problem and on the political side. making transparency giving more transparency on how the money from the oil is spent that's a major issue or a norm thanks so much for talking to us thank you sam some other stories on our radar this week china could be facing a debt iceberg that's according to s. and p. global the ratings agency is highlighting what it called titanic credit risks because of under reported local government debt meanwhile the world's number two economy reported its slowest quarterly growth rate since the global financial crisis brags that time out european union leaders have given themselves several more weeks to reach a

aramco i.p.o. was already styled for a number of reasons some are technical some are more political or technical reasons well there is no transparency a studio oil reserves of saudi arabia therefore long exaggerated how much oil there is in their reserves and now to disclose it to disclose the real reserves because for an i.p.o. you need transparency this is a main problem and on the political side making transparency giving more transparency on how the money from the oil is spent that's a major issue or a non thanks so much for talking to us thank you sam. some of the stories on our radar this week china could be facing a debt iceberg that's according to s. and p. global the ratings agency is highlighting what it called titanic credit risks because of under reported local government debt meanwhile the world's number two economy reported its slowest quarterly growth rate since the global financial crisis brags that time out european union leaders have given themselves several more weeks to reach a

that aramco would list on the new york stock exchange >> correct >> connect the dots. >> it will pushreater links between saudi arabia and china and russia >> because we have to take action >> we have to take action. we'll make a big enough statement that targeted ca ed el like movement, but that this will occur >> do you think turkey is holding information? >> i think turkey and erdogan are being savvy going forward. >> turkey plays a fascinating role literally and figuratively they straddle both sides. asia and europe. what do they want? >> the turkish economy needs more investor confidence they'll play a strategic intermediary role playing both sides. they gained much more favor here in the united states since the pastor release the timing for turkey and investor confidence is good. >> president trump has called on the saudis to increase oil production the saudis have told us here on cnbc and have referenced us in news that we have broken that they intend to raise output by 500,000 barrels per day, indeed they have. now we have the united states pushing back against saudi arabia ov

saudi arabia's crown prince insisted the stall plans to sell shell aramco will go ahead.arks in an interview with bloomberg. he promised an initial public offering by 2021, and stuck to his ambitious views is worth $2 trillion or more. joining us from dubai is bloomberg's executive editor for the middle east and africa, who was present for the interview. riad, let's talk first about the ipo. it's been delayed and put on hold before. are they determined to go through with this? determined certainly to go through that. he actually gave us a reason for the delay this time around. he said that one of the reason, or the main reason, in 2017 there were talking about the future of aramco and their oil industry and decided they really knew to go downstream and invest in petrochemicals. if they do that, they are setting up two of the largest countries to compete with each other, or they thought he would suffer from a giant like aramco. that's going to happen next year. then you need one year of financial result pieces. and then after that, and of 2020, 2021, that's the new target.

i give you one example about the celebrated ipo, the flotation of the aramco oil company in saudi arabiaith his vision 2030 promise that he would do 5% of that oil company. the world thought that this was an opportunity but, of course, it did not happen. he changed his mind and said it is put on hold. there is an economist who is very clever, he was actually planning to go to the us and do a ph.d., he wrote a critical tweet saying that this is not a good idea, the ipo aramco. he has been imprisoned since november 2017. let's return, nick burns, if we may, to mbs himself. and it is important to think from washington's point of view, in the years that you were a very senior figure in the state department, there was deep concern about the degree to which saudi arabia was exporting wahhabi religious ideology which was encouraging dangerous extremism in many other parts of the world, where saudi resources were being invested in mosques and madrasas and what have you. and mbs addressed all of this, and he said the bloomberg just a few months ago, we are trying to get rid of extremism and terro

they want one year of full financial results and then they still want to ipo aramco. happen? we have talked to some analysts that express some skepticism that it would be -- they would be able to do it as soon as that. the princess of a target for his advisers and ministry for them to work off of. francine: when you look at what else he told you, what did you learn from the interview? softbank, he had investors in one of the funds. he said it is been so successful he is going to put another $45 billion in the next $100 billion that softbank wants to raise. he seemed extremely pleased about that. he also talked about his relationship with trump. we know president trump came out and basically said that saudi arabia would and last for two weeks without u.s. support and they should pay more. it is more harshly presented by trump. his reaction was quite mixed. on the one hand, he says he really enjoys working with trump. he very much sees himself in line with trump. what he doing exactly wants the u.s. to do, but at the same time he said when it comes to the demands that t

any aramco listing even further back into the horizon i don't think we can link the two things with saudi aramco i peel was already styled for a number of reasons some are technical some are more political or technical reasons well there is no transparency a studio oil reserves of saudi arabia therefore long exaggerated how much oil there is in their reserves and now to disclose it to disclose the real reserves because for an i.p.o. you need transparency this is a main problem and on the political side making transparency giving more transparency on how the money from the oil is spent that's a major issue or a norm thanks so much for talking to us thank you sam. some of the stories on our radar this week china could be facing a debt iceberg that's according to s. and p. global the ratings agency is highlighting what it called titanic credit risks because of under reported local government debt meanwhile the world's number two economy reported its slowest quarterly growth rate since the global financial crisis bragg's it time out european union leaders have given themselves several m

but i talked to the ceo of saudi aramco, and said how do you proceed with an event like this, pull int does it do to saudi, inc., sitting on the sidelines and the horrendous news we've been hearing? let's listen to him. >> everybody feels sorry for the journalist of jamal khashoggi and we also feel sorry for his family and what happened. but at the end of the day, you know, we need to move beyond that. it happens. the kingdom recognizes what happened. and is taking steps to make sure it will be addressed through the legal system that exists within the country in dealing with the people that committed this. >> reporter: the ceo of saudi aramco, aream nassar. at the start of the event, to your point, we had two prominent saudis, ceo of a very large $20 billion industrial group here, signaled out the condolences to the khashoggi family and said this is not part of our culture, we need to get to the bottom of it. even the powerful minister of energy said, look, we need to know what has happened going forward and be transparent for the future of saudi arabia, particularly we owe it to the

there is a sense that things are slower than he originally anticipated, including the aramco ipo.aylor: what is the -- jason: what is the state of that? that is one of the most eager offerings in history. interview,e this there was a lot of reports in the media, including our own, saying the aramco ipo was a concern on hold or canceled. now he is saying it will be delayed, but it is not on hold, and we are still planning to do it. of 2017,ad of the end 2018, which was the original plan, he is saying it will be 2021. jason: you were speaking to him at a time that a saudi journalist had disappeared. that story is ongoing, obviously. what did he say? his reaction, especially to some of the questions around the saudi government's role in all this? riad: our interview was late wednesday. at the time, he said you does not know what happened to him. theaid schalke had left consulate. they said he would like to know what happened to him, and he invited the turkish authorities to come in and search the consulate to see what happened. he did say that right now he is not in saudi arabia. he

alix: the saudi aramco ceo saying they want to pump 12 million barrels a day.hat they want to do that for the longer term. when can they do that? how much money do they need to do that? jan: this is where javier had a fantastic story earlier this week. by monday we are told, we are doing all we can, going all out. 10.7 is all you can do, clearly. then we hear $30 billion to $40 million gets us to capacity. what is that level? from the mythical 12? if you talk to me about spare capacity, you have to give it to me in 30 days and sustain it for 90 days. when in history have you done anything more than 10.6? never. not for 90 days. if you take the top level as the real capacity, 10.7. every time you go below that, you have spare capacity, what do you have left? you need time to drill. how much time? how many billions of dollars per day? we think they have room to drill another million barrels easily if you search. if you do not want to search, if you are commercially invested in the field. your geo engineers don't want you to do that. if you want to do that because

we heard of the deal that aramco was going to be buying, raising money in the market to buy part of subssolutely not. in two years, we will have the ipo. i think he was trying to answer some of those doubts. caroline: thank you. live from london. she is staying up late for us. the first round of the brazil presidential elections. that is all from us. romaine: thanks for watching best joe: things are watching, this is bloomberg. ♪ emily: i am emily chang in san francisco. technology."mberg in the next hour, the big china hack revealed by bloomberg. the supermicro impacted software and facebook and apple were hit. another tweet storm from elon musk. he fired off more than one dozen messages lashing out at the sec and short-sellers. could this jeopardize the settlement he struck days ago? tencent

it's in the eye of the aramco bid, making it very clear, the ambition is about petrochemicals.nt to get a full year of numbers in, and then they will look at the ip. everybody is saying petrochemicals is the key growth market. >> it's going to be interesting to see if they get that big pop in saudi stocks. you've got the global gloom from friday's trade. how is that all going to pan out? that's all we have for this edition. we'll be back at 8:00 a.m. dubai time tomorrow. join us then. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. scarlet: i am scarlet fu. this is "bloomberg etf iq." we focus on the axis, risks and rewards offered by exchange traded funds. with the global s

mohammed bin salman tells bloomberg the aramco ipo is still on and will happen by 2021.g to his belief it is worth $2 trillion. gulf arab allies pledged $10 million in aid to bahrain. is it enough to avert a currency devaluation? and trade tensions may be on the rise, but ceo of one of the global port and logistic operators tells bloomberg he sees no impact yet. ♪

they recently signed a $9 billion contract saudi aramco. the saudi minister admitted times were tough. >> we're going through a crisis of sorts resulting from the very regrettable and abhorrent incidents that took place in turkey. nobody in the kingdom can justify it or explain it. from the leadership on down, we're very upset. >> many american companies have chosen to stay away from the saudi conference. there are still major economic ties between washington and riyadh. namely in the trade of oil and weapons. emeril maxwell has more. >> saudi arabia has promised to retalant sanctions leveled against it. a threat that donald trump seems to have taken to heart. at the world's largest oil exporter, riyadh could send prices soaring if it decides to cut production. the saudi kingdom actually has less clout in the u.s. economy than the past. in 2003, it was a country's largest supplier of president trump. -- of petroleum. it made up less than 12% of imports last year as tracking and renewables increased -- fracking and renewables increased in n

the kingdom since one thousand nine hundred thirty and they still have a you know there's a saudi aramco is a big client it was a cash management for saudi aramco do a lot of the emanate transactions so there's a lot of lot of people one of the things step maurice me aboard a bit is start you now see a lot of the big guys you know the first tier of the big guys not going and you see a lot of the sort of the bottom feeders the turnaround managers and i'm not sure it's good for the kingdom to have them engaged i'd rather see the big companies you know further for the sake of g.c.c. for the sake of things coming down i'd rather see the corporate world maybe. slowly but steadily accepting some some some good pressure cornelia thanks very much good to talk to you as ever here on the news i will stay with those live pictures of you joining us here on the news are the saudi crown prince mohammed bin sama flanked by king abdullah the second of jordan big investor conference you look heard it discussed over the past ten days or so in the desert that's the short term there's so much money involved

opportunities that attract western business still to riyadh are first of all the prospect of a saudi aramco i.p.o. which would break all sorts of records might carry with it extraordinary fees for the banks and other advisors who get to advise on that process even if it's been delayed for now that's still a big prize the second thing is the vision fund this partnership between the saudi sovereign wealth fund the p a r p i f and i say all she songs softbank empire which has become a huge force in investing in tech unocal and in the us of this world in the future it was there is still a great hunger for that capital in the west i think that is what's going to lead a number of people still to show up and even in two weeks time and to keep doing business with the kingdom after that thank you for your perspective u.s. business editor for the financial times andrea educate johnson joining us after new york. thank you. much more to bring you on this news hour from london by jerry's government warns of severe food shortages and made worsening floods. spain may be marking its national day but imposs

the pif is seeking ways to deploy a windfall from a sale in anticipated the aramco ipo.ets return after a golden week. valuations are attractive, but expect some pullback in a-shares. index seeing its worst week since february. live from new york and sydney and hong kong, this is bloomberg. ♪ haidi: it is just an hour away from the open in hong kong. mainland investors return to the open of trade here in asia. we had five days of declines in asian stocks last week. goldenad been offer the week national day of holiday less rate. we have the pboc reserve ratio requirements soften. shery: you are watching daybreak asia. let's get you the first word news. brazilian media are calling a runoff in the presidential election after bo lsonaro failed to get an outright victory. investorsise, and ignore his authoritarian streak and focus on his pro-market stance. heads tolican party next month's midterm elections convinced that the confirmation of brett kavanaugh will bolster their effort to stop the democrats. the partisan battle in the senate ended with a 50-48 vote in kavanaugh's

five job creation is an urgent concern the oil production itself is controlled by state owned saudi aramco reportedly the most profitable company in the world but nobody really knows because despite plans to sell off some of it on public markets the books remain a secret in two thousand and seventeen saudi arabia produced twelve million barrels of oil per day so let's say the kingdom withholds a few million barrels prices would go up but that would hurt the global economy which wants to move away from fossil fuels its biggest customers would look elsewhere for a long term supply and it would all end up being an own goal you certainly don't want to destroy your only income before you plan to diversify your economy and this should be in the wake of the job the crisis the country had issued a veiled threat that it could use oil to retaliate against any sanctions but then the saudi oil minister stepped in to soothe investors if there are. any disruptions which you know from from supplies of especially with their own sanctions grooming then we will continue with the mindset we have now which is

five job creation is an urgent concern the overproduction itself is controlled by state owned saudi aramco reportedly the most profitable company in the world but nobody really knows because despite plans to sell off some of it on public markets the books remain a secret in two thousand and seventeen saudi arabia produced twelve million barrels of oil per day so that say the kingdom withholds a few million barrels prices would go up that would hurt the global economy which wants to move away from fossil fuels its biggest customers would look elsewhere for a long term supply and it would all end up being an own goal you certainly don't want to destroy your only income before you plan to diversify your economy initially in the wake of the her jubilee crisis the country had issued a veiled threat that it could use oil to retaliate against any sanctions but then the saudi oil minister stepped in to soothe investors. any disruption.

five job creation is an urgent concern the or production itself is controlled by state owned saudi aramco reportedly the most profitable company in the world but nobody really knows because despite plans to sell off some of it on public markets the books remain a secret in two thousand and seventeen saudi arabia produced twelve million barrels of oil per day so that say the kingdom withholds a few million barrels prices would go up but that would hurt the global economy which wants to move away from fossil fuels its biggest customers would look elsewhere for a long term supply and it would all end up being an own goal you certainly don't want to destroy your only income before you plan to diversify your economy and the should be in the wake of the her jubilee crisis the country has issued a veiled threat that it could use oil to retaliate against any sanctions but then the saudi oil minister stepped in to soothe investors. if there are. any disruptions which you know from from supplies of especially with their own sanctions grooming then we will continue with the mindset we have now which

released had to pay hefty fines the highly anticipated listing of state all state owned oil giant aramco has been put on hold. and decided saudi forces would join the war in yemen but three years on the fight against the who the rebels continues and the blockade of gaza is still led by saudi arabia splitting the gulf cooperation council and causing regional instability. let's now bring in our guests here in doha khalid al hotter an economist and researcher at the institute for new economic thinking at the university of cambridge in london a slim chief market analyst at think markets and in washington d.c. herb director of research and analysis at the arab center washington d.c. a warm welcome to you all let me begin with you. that can you just explain to the viewer what the saudi crash means what what how did this happen. it means as the there is a doubt and there is. there is a feeling it and exile and fear in the market were associated with the elevated and certain it associated with the case of. the possible involvement of the saudi government in this case and then the possible reperc

universities the money came from the likes of leading saudi research centers a national oil company saudi aramco and a national chemical company george washington university was the biggest benefactor receiving over seventy three million dollars that amounting to scholarship money provided through a program that pays thirty costs for saudi students in the u.s. in the wake of demolishor g.'s murders some schools are reconsidering their current dia's but many others say they will not refuse the funding they get from the kingdom as makes it more about the start of college and doc who joins us live from washington he's an international affairs analyst and president of the consulting firm cd global strategies group thank you very much for being with us. so to what extent are these u.s. institutions whether it's universities businesses to what extent are they we thinking there ties with saudi arabia in the wake of the scandal. well i think at every level whether universities think tanks even members of congress are having to rethink their strategy towards saudi arabia because the incident has really r

released had to pay hefty fines the highly anticipated listing of state all state owned oil giant aramco has been put on hold. and decided saudi forces would join the war in yemen but three years on the fight against the who the rebels continues and the blockade of gaza is still led by saudi arabia splitting the gulf cooperation council and causing regional instability. let's now bring in our guests here in doha khalid al hotter an economist and researcher at the institute the new economic thinking at the university of cambridge in london a slim chief market analyst at think markets and in washington d.c. herb director of research and analysis at the arab center washington d.c. a warm welcome to you all let me begin with you. that can you just explain to the view of what the saudi crash means what what how did this happen. it means as the there is a doubt and there is doubt. there is a feeling it and exile and fear in the market were associated with the elevated and certain at the associated with the case of. the possible involvement of the saudi government in this case and then the poss

annie: the aramco ipo, even though it is not as soon as we thought, still hangs in the balance for aot of these banks. that may be a reason they decide hey, we will still send a some of our big dealmakers to the conference. romaine: what about other companies -- countries excuse me. we talk about some of the big u.s. and european bankers and ceos. there is an issue here that if those people pull out, there are a lot of people in china and asia that may do not have the same moral quandaries. annie: that's right. you could be leaving a void for others to fill. if you're looking competitively to your options, you do not want to be stuck on the sidelines. so this is all going into the calculus. caroline: certainly what trump has been saying in terms of protecting the military deal arabia.udi it is a great story. look out for it online. coming up, ford pokes fun at tesla as elon musk and co. refresh their product lines. we will talk that next. this is bloomberg. ♪ is bloomberg. ♪ romaine: tesla is trying to get the new model three out there and is dropping one of the self driving. elon mu

impact,does this have if any, on the aramco ipo? >> that depends on what the markets think.s the markets are fairly cynical. if there is money to be made, they will buy it. and in six months, this killing may not be remembered very clearly. this is an enormous story at this point, well over a week. the fact of the matter is that nothing has happened and i suspect, if there is money to be made, the ipo thing will go forward. i'm not so clear what that ipo is, but others -- if others do understand it, it will happen. rishaad: thank you for that. . yvonne: find out why the philip sayss international ceo they are turning away from e-cigarettes. this is bloomberg. ♪ yvonne: regulators have ended the issuance of licenses through a stopgap approval process, also known as the green channel. last official halfway. rishaad: this look at what is going on with market reaction. david: here we go. the subtitle tells you everything that you need to know. tencent currently trading at 278.20. --p in mind that regulators , we willy risk continue to track that. that tracks it all the way to th

will saudi aramco go public?f they d what valuation would they get all of that is in question >> there's still 2021 now, we're talking about that being there's such a long time before that happens they have their long-term plan they will be sticking to it. in terms of the ipo of that that's a separate issue. >> all right matt, thanks for coming in today. >> thank you >> matt smith from clipper data. >>> still to come, some huge interviews on cnbc today to tell you about. first, former fed chair, alan greenspan. he will join us on the set right here to talk about the market volatility and rising rates. then former fed fis chair stvice chair stanley fischer. then at noon, steve liesman has an interview with gary cohn. at 3:00 p.m. on "closing bell," david solomon will talk about goldman sachs's quarter and the volatile markets a t inonlogog today ♪ a moment of joy. a source of inspiration. an act of kindness. an old friend. a new beginning. some welcome relief... or a cause for celebration. ♪ what's inside? ♪ [laug

elizabeth: saudi arabia is in a bind, it's trying to bring saudi aramco to the markets in an initial public offering, trying to diversify away from being an oil economy. this is a shocking development that comes at the wrong time for what saudi arabia's trying to accomplish with its economy. let's get to this development, terror preacher, he is radical and a violent islamist. he was sentenced in 2016 to five and a half years in prison for basically inviting support for isis. he just got out, colonel, after serving less than half his sentence. what's your reaction this guy? he basically supported group that basically macheted to death that u.k. soldier, lee rigby. go ahead. >> this is absolutely appalling. and when you look at what the government there in england has decided, you know, they're shooting themselves in the foot. you know, one of the cradles of western civilization is free speech and freedom of religion. but when people start to turn that into sedition and try to undermine the nations in which they live in -- and think about this, he's on welfare assistance from the the g

have different attitudes toward privacy, data and security means unless we have all those voices in aramcohat we would develop things that do not work for everyone. emily: do think facebook and google would exist as is if they were greeted by a more diverse workforce? genevieve: i think that they were tapping into different things. with my technology that they are building, maybe. you may have had a different starting point. emily: what governments and companies need to do, given that a.i. will only become more powerful, yet in equities exist as they are? genevieve: i know that there is things they are already doing, supplementing existing laws, everything from data security to have it become a regular says coming on in europe about data protection and rights, there are open questions we still need to consider about how we treat data and about how we deal with biases in the data. and you will start to see more companies developing internal policies, different governments around the world developing their own standards too, and we are in the early days but i remain cautious and optimistic a

what is the state of the aramco deal?is point, we understand from the crown prince that the saudi aramco ipo is still on for 2020 or 2021. been of the work that has done is now at risk in terms of trying to shore up investor confidence. to have a going domestic component and international component. the international component would be in question. finally, who is going to show up at davos in the desert? is anybody still going to attend? there are still quite a few people going. the numbers growing of those who aren't going. you have the likes of softbank. event at thisarge point in time. not everybody has canceled just yet. there could be more to follow in footsteps. it is definitely a setback in terms of trying to shore up investor confidence around. those in the desert. francine: thank you so much. several companies have pulled out of this conference. that is the conference due to take place next week in riyadh. this is what i am looking at overall. a little bit of pressure on stocks worldwide. coming up on "bloomberg

we have been excited about the ipo -- the aramco ipo and thinking things are moving much more rapidlyhan they are. riad: i don't know if it is shame on us. we have written a lot about the fact that things have turned more authoritarian in the last couple of years. that peopleten who do not necessarily agree with some of the policies have been told to get off twitter or not say critical things on twitter. we also have written about arrests that have happened and then heavily criticized, especially after the women activists were arrested. there was already heavy criticism coming in. something like this now, but it was not that he is getting away scott free on this. carol: how will ultimately, though, the disappearance of this journalist in terms of how it plays out -- it can play a couple different ways whether or not it directly -- that saudi arabia and the crown -- is is seem responsible for the death. how will that change the future? bed: i think it is going to a factor now going forward in every company and every businessman going into saudi arabia is going to be something they, at

we have the sovereign wealth fund, the investment with softbank, potential ipo with saudi aramco andir chemicals unit this is a huge source of deal flow for every major bank in the world. i don't think suddenly they'll disappear from saudi arabia. what these people are doing now i think is biding their time disappearing, keeping their heads down while this storm is brewing. what will really face people like jamie dimon is how much do they dip their foot back in the water when things calm down. the crown prince has had controversial policies in yemen, detentions of princes, of journalists this has been going on for months and it has not risen to the level of international outrange the khashoggi case has now they have to decide whether the deal flow is worth the bad reputational risk they put for their banks and financial institutions back on wall street >> we know at this point the vast wealth that comes out of saudi arabia, that's the reason why the private investment fund has their fingers in so many different projects and so many investments. is there a sense that the ceos out ther

about this huge saudi ipo, which potentially was going to be the biggest ipo in the world, saudi aramco. if the market or the people believe that this intelligence guy is the bad guy and mohammed bin salman, the crown prince, is, that could be all off the table. >> neil: obviously we're talking about mohammed bin salman. but i'm telling you, susan, i don't know if that will wash with the world that has serious suspicions and this will be reacted to correctly but the saudis. your thoughts. >> sentiment is so fragile. italian yields have spiked. investors and traders are using in i excuse to take money off the table right now, any admission of guilt will be a negative. >> neil: what is interesting about that, susan, we used to ignore the foreign developments. now we get wrapped up in them. we are the world. it used to be us despite the world. >> that has changed obviously. it's a globalized world. dollar here means a dollar there. as you know, that means trade also goes across borders. >> neil: still, it's all how this lands in the markets and how they react to these developments. saudi a

back against the wahabists there, mosque away from solely focusing on fossil fuels to privatizing aramco, which hasn't occurred yet. but if you listen to his vision of the future, it is very impressive. but then if you look what he did when he came into power, got the opposition at the ritz carlton, detained them there, tortured many of them. you look at the fact that lebanons had a confessional system and so their prime minister, sunni, the way that he didn't like he was carrying out his activities, he arrested him. obviously has interest in saudi arabia. his wife lives there. they had a hold over him, if you will. and look at the rookie mistake he made in qatar, putting in place this blockade. he has obviously made some mistakes. if he has gone forth and murder this had journalist, he has now crossed the line and there needs to be a punishment and price paid for that. do i think he did it? yes. i think he did it. let's finish this investigation. we have the best in the world at being able to do that. we obviously have intercepts from the past that point to involvement at a very high le