$14000000000.00 listing at the hong kong stock exchange has a set to start trading on november 26th the i.p.o. comes as beijing's seek support from hong kong's tycoons and entrepreneurs to maintain a sense of business as usual in the face of 5 months of on race. amazon wants to challenge the pentagon's decision to give microsoft a $10000000000.00 cloud computing contract the online retailer says politics got in the way of a fair process. u.s. president donald trump has repeatedly taken swipes at amazon and its founder jeff bezos rules who owns the washington post. and on the closing day of a 2 day summit the brics nations of top of merging economies one the trade tensions and policy uncertainty are undermining the global economy china russia india brazil and south africa urged the world to keep markets open and slams protectionism the 5 countries represent about a 3rd of global output. at australian airline qantas has completed a trial flight from london to sydney known stop about 787 dreamliner touched down after a journey of 9 hours just over 50 people were aboard the flight off way around the wor

they have a much anticipated i.p.o. coming up in 2020 and according to a report from the financial times the company is valued at up to 42000000000 dollars by investors who are trying to buy a stake prior to the i.p.o. now we've seen criticism of the company's business model is this another one of those over valuations we're talking about and do you really see an i.p.o. any differently than these other field unicorns. well let's just look at the market cap of the largest hotel chain right now in the world which is marea marymount current market cap is 43000000000 and that's and you can drive to that market have based on their generated revenues air b.n. b. is air b.n. b. as big as marriott do they have the same consumer base as america can the world sustain. and have consumers like feeding revenue into these 2 giant entities if not that valuation is completely overblown and there's something very wrong with it. well thank you so much adam and christiane for that discussion on these you know koreans there i know there was a lot

light to go public a part of the crown prince's plans to overhaul the cell the economy but come around close i.p.o. satisfied his ambitions and what if any are the risks this isn't side story. hello and welcome to the program i'm dead in saudi arabia's crown jewel in the world's largest oil producing firm aramco is now set to go public after several delays the initial public offering or i.p.o. will be on the saudi stock exchange how much of the company's for sale and at what price will be determined later part of the crown prince's economic plans for the kingdom the floatation aims to raise billions of dollars but estimates of how much it might actually draw vary widely. a 2 trillion dollars price tag many bankers put it at one and a half trillion dollars and critics of the i.p.o. say investing in iran could be risky the company suffered a drone and missile attack in september that temporarily shut down half its production osama bin jeff aids reports. the world's most anticipated stock offering is happening after years of hype and several delays saudi aramco the world's largest oil producing firm

questions and what the real details are now i'm not saying they're not i'm saying they're coming out of your brain this i.p.o. to market because maybe they want to have the the billions of dollars to play with their own mind paying the 4.4 percent dividend which is higher than the other than their competitors and what they want to i mean again there's a lot of reasons to go public but again i think the other thing we're looking at is the overall increase in demand plus the fact that they have a general competitor in united states i mean we can produce enough of our own oil we are no longer held hostage by opec around core saudi arabia so there's a whole bunch of things that could be created this by the end of the day i mean who couldn't use the extra $2627000000000.00 laying around and just to put it back and flush around the markets i mean you know to me it's just easier for them to do so and it doesn't cost them anything and again we know that their profits are really there. all right peter well let's look at this in the other current reigning i.p.o. leader ali baba is also planning the secondary h.k. list

light to go public a part of the crown prince's plans to overhaul the so the economy but come around close i.p.o. satisfied his ambitions and what if any are the risks this is inside story. hello and welcome to the program i'm. so.

green light to go public a part of the crown prince's plans to overhaul the the economy but come around close i.p.o. satisfied his ambitions and what if any are the risks this isn't side story. hello and welcome to the program i'm dead in saudi arabia's crown jewel in the world's largest oil producing firm aramco is now set to go public after several delays the initial public offering or i.p.o. will be on the saudi stock exchange.

you're watching the news live from virgin coming up could have been the most valuable i.p.o. in the saudi arabia appears to sell a slice of the state oil giant around that's next on business with ferguson another reminder the stats that with all the news on our web site that's d.w. dot com it's now going to be helen it's watching. i'm askin that volume or not hard and in the end this i mean you're not allowed to stay here anymore we will send you back. are you familiar with this. with the smugglers were lions and the what's your.

you're watching news live from virgin coming up could have been the most valuable i.p.o. 'd ever saudi arabia appears to sell a slice of the state oil giant around coke that's next on the business with ferguson another reminder the steps that it's old news on our web site that's d.w. dot com it's now going to be held in swatch of. kin that the room that's hard and in the end this for me you're not allowed to stay here any more we will send you back. are you familiar with this. with the smugglers were lions of the what's your story ready. i mean when i was a women especially in victims of violence. take part and send us your story you are trying in all ways to understand this new culture. you are not a visitor nothing yet you want to become citizens. in full migrants your platform for reliable information. in. saudi arabia is telling the family silver it's offering a tiny slice of state owned oil giants around college but the 1.5 percent of the company up for grabs still looks set to be the most valuable i.p.o. ever. the battle for the 5 feet up but it's by air so with eur

of course it was the quarter that was supposed to be the i.p.o., the big coming out day and did not happen. it was the death of the company as we knew it in the sense we saw the c.e.o. leave and a huge management change and now we're talking about appointing a new c.e.o. and other names have been mentioned such as the t-mobile c.e.o. jean legere and see where the i.p.o. was pulled and really kind of shocking increases in debt. i'm sorry, losses of that company. alix: alex webb of bloomberg opinion. now we turn to the fed, chairman jay powell pushed on the call for lower interest rates saying monetary follow is right where it should be. >> we do think monetary policy is in a good place but we'll be watching carefullyly incoming data and if developments emerge causing a material reassessment of the outlook then we'll act appropriately. alix: here in new york is michael mckey, the bloomberg economics and policy correspondent and did we michael: jay powell accomplished what he didn't want to and explained criticism from donald trump and made no news. his goal today will be exactly the same. he

but i think the leadership in saudi arabia and earns that time as come to act and this i.p.o. process asin it started to me mission 2030 successful there is a real sense of urgency in the indictment on the part of the leadership right that you know i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind we need to be very realistic about all of these issues but i also don't want to provided that human room analysis in the excessively pessimistic you know we are moving toward equalization on but you know we're not there yet and i think there are at least a possibility of this i.p.o. being very successful. still ahead on al-jazeera sons of a withdrawal of troops back in parts of ukraine schoolchildren east ahead of a crucial summit. they want to silence tell the catalonia dependency she was being kept at the forefront of spines election. hello this a pretty good clear conditions through southern and eastern china the count is coming in from the west through the interior and we have got some rain and snow to the high elevations

but i think the leadership in saudi arabia nerds that the time as come to act and this i.p.o. process absolutely it started to me mission 2030 successful there is a real sense of urgency in the indictment or on the part of the leadership right you know i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind and we need to be very realistic about all of these issues but i also don't want to provided the doom and gloom analysis in the excessively pessimistic i'm you know we are moving toward equalization on but you know we're not there yet and i think there are it was the possibility of this i.p.o. very successful u.n. experts say it's highly probable a mass strike on a migrant detention center in libya was carried out by a state allied to warlord khalifa huffed off the draft report declined to name the country but allies include the u.a.e. and egypt the attack in july near the capital tripoli killed more than 50 people and wounded more than 130 others the draft u.n. report also says the u.a.e. jordan sudan and turkey violated

i feel riyadh but i think the leadership in saudi arabia knows that the parliament has come to act and this i.p.o. process as a good started to make the june 23rd and successful there is a real sense of urgency in the kingdom and on the part of the leadership i think and i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind and we need to be very realistic about all of these issues but i also don't want to provide a doom and gloom analysis in the excessively pessimistic you know we are moving toward the carbon is a shannon but you know we're not there yet and i think there are at least the possibility of this i.p.o. being very successful. also ahead on al-jazeera the u.n. reveals evidence suggesting a foreign government was responsible for an attack on a migrant camp in libya. there's lebanon on the brink of bankruptcy we'll have the latest on the worst economic crisis in decades. and the cold air is sweeping its way from north to the southeast across the united states as part of the count around well there is rain and snow in the mix no surp

but i think the leadership in saudi arabia knows that the time has come to act and this i.p.o. process asin it started to me mission 2030 successful there is a real sense of urgency in the kingdom and the party leadership right you know i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind who we need to be very realistic about all of these issues but i also don't want to provided the doom and gloom analysis in the excessively pessimistic you know we are moving toward equal been a station on but you know we're not there yet you know and i think there are at least a possibility of this i.p.o. he was very successful. still ahead an al-jazeera at the u.n. reveals evidence suggesting a foreign government was responsible for an attack on a migrant camp in libya plus we look at the new challenges people are facing 30 years after the 4 of the berlin war. and that's the most the cave picture across much of the middle east some cloud around but no much in the way of moisture no rain and not really much in the way of snow either touc

but i think the leadership in saudi arabia knows that the time has come to act and this i.p.o. process asin it started to make mission 2030 successful there is a real sense of urgency in the kingdom and the party leadership right that you know i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind who we need to be very realistic about all of these issues but i also don't want to provided the doom and gloom analysis in the excessively pessimistic you know we are moving toward equal been a zation on but you know we're not there yet just now and i think there are it was the possibility of this i.p.o. being very successful. protesters were out overnight in lebanon's capital with a musical approach i believe. crowds packed beirut streets in front of government buildings dancing to music from loudspeakers there's been anti-government protests for more than 3 weeks now and they're demanding significant constitutional changes well the economy is at the roots of the crisis in lebanon and the political stalemate is threatening to cau

i.p.o. not to say this is how we are now going to make money for all these public investors who come into the company and shareholders and instead the early investors are making money on just the i.p.o. and the founders the c.e.o.'s those founders are making money on the i.p.o.'s because they're taking it all the stock and then if it's unsuccessful after the fact it's not their problem and that's what happened by the way with travis over and over with out of newman over it we were both of them walk away with enormous amounts of money personal fortunes the rest of us couldn't dream of and yet the same time the company doesn't make money. well that's reason this focus on now turning a profit is very different than what the traditional venture capitalists actually founded their principles on their 6 rationale for injecting so much money early on as you have to focus on growth they have to focus on expanding our market or else i'll be cannibalized by another bigger competitor who has the same bundle has the same backing so if companies are expected to turn a profit early on how can they expect to

i.p.o. and since then a lot of scrutiny has come on that figure a lot of independent experts have weighed in on what they think and i think we're just finally settled the numbers that are doing the rounds have been anywhere from 1.2 to 1.5 trillion and the point that you raise about a lot of concern over how reliable or not these flaws are from saudi arabia is a very valid concern i think that is definitely going to be a factor that investors keep in mind you know most international investors but that's probably not going to happen to sometime it's a domestic listing for now as well as the oil prices and the outlook for oil prices so we know and prices have recovered quite a bit since you know back when it was announced in 2016 that they were in the dollar drums but you know it's a lot longer branch around $6.00 a barrel so that's going to be on the valuation of the company as well that as you say at domestic listing for now but once the i.p.o. floating and generating profits then who benefits from that where will the proceeds from the offering go. so as you mentioned earlier in your program

questions and what the real details are now i'm not saying they're not i'm saying they're coming out of your brain this i.p.o. to market because maybe they want to have the the billions of dollars to play with their own mind paying the 4.4 percent dividend which is higher than the other is better than their competitors and what they want to do i mean again there's a lot of reasons to go public but again i think the other thing we're looking at is the overall the increasing demand plus the fact that they have a general competitor in united states i mean we can produce enough of our own oil we are no longer held hostage by opec around or saudi arabia so there's a whole bunch of things that could be created this by the end of the day i mean who couldn't use the extra $2627000000000.00 laying around and just to put it back and flush around the markets i mean you know to me it's just easier for them to do so and it doesn't cost them anything and again we know that their profits are really there. all right peter let's look at this in the other current reigning i.p.o. leader ali baba's also planning the secondary h

i.p.o.'s fail to take in hong kong. got 2 words for you trading fees right there too high in hong kong that's what it comes down to and there's got to change this has such potential with this with this i.p.o. market to to to to to make things more wonderful than they can be in new york which is a very clogged up regulated system but these trading fees of hong kong are killing the i.p.o. after i.p.o. and something's got to be done to change this and i think they will be and that's the whole reason for the failure that's it you know you want to look at failures like this you know you have to look at these kind of these kind of mandates of regulations these fees and the just too high and they really do cut into efficiency of markets geoffrey one more question for you before we go soft bank we've got to talk about this here because after the we work implosion we're billions of dollars of value we're just destroyed in a vacuum evaporated softening came under fire with many people calling this the now a ponzi scheme some are even calling it the next in iran they pump up startups to insane valuations and then exit with an i.p.o. we'

i feel riyadh but i think the leadership in saudi arabia knows that the parliament has come to act and this i.p.o. process ask again started to make the june 23rd and successful there is a real sense of urgency in the kingdom and on the part of the leadership and i don't want to be overly optimistic there is all these factors we touched upon that need to be kept in mind and we need to be very realistic about all of these issues but i also don't want to provide the doom and gloom analysis in the excessively pessimistic you know we are moving toward the quarter been ization but you know we're not there yet and i think there are at least a possibility of this i.p.o. being very successful. still ahead on al-jazeera. i won't be silenced how the catalogue of dependency she was being kept at the forefront of spain's election. tuneful time we look at the new challenges people are facing 30 years after the fall of the bully more. than sport the world's most expensive football gives a date for his return from injury has that story. hello there somebody go click conditions to southern and eastern china the

be allowed to buy the shares when they come on the market sometime in december the company's been valued at 1.7 trillion dollars making around co the biggest i.p.o. ever. subscriptions start soon for weeks these billboards have lined riyadh streets now the subscription period has begun for real investors can sign up to buy shares in saudi aramco. it's their patriotic duty says the government some banks are even offering loans of $10000000.00 euros so rich saudis can buy a piece of the oil colossus into saudi capital there is no public criticism of the planned i.p.o. . company is the crown jewel of investment in saudi arabia and a safe company to invest in the biggest company in the world thank god it is a good opportunity that crown prince mohammed bin gave us the chance to subscribe to be partners in this success. but the investment is not without risk there are concerns that the saudi powers that be wields too much influence that iran co is not commercially independent enough of the saudi state. and just how significant are around because oil reserves are they really enough for more than another 50 years independent analysts beg to differ. the

believe much of the investment from the riyadh listing will come from filthy saudi families not foreign investors it's curious timing for the i.p.o. with a weak outlook for oil prices a beer a global economy an increase environmental awareness against the use of fossil fuels some of the job he'd rather there. let's bring in a bit of him for a heart he's an associate professor at the doha institute for graduate studies thanks for speaking to us on al-jazeera so it's been an i.p.o. that's been on again off again now it seems to be on and reports seem to suggest that the crown prince is now willing to accept less than that 2 trillion dollars valuation that he had once hoped for how significant is this i.p.o. for the kingdom well it's very significant actually. for many reasons one. represents the backbone of the south the economy. and to have this. giant company on sale for privatization i mean this sends an important message about the control of the economy and the sovereignty of the state because this is about sovereignty for saudi arabia. and here is the kingdom is putting this important. part of its economy privatization so this

believe much of the investment from the riyadh listing will come from wealthy saudi families not foreign investors it's curious timing for the i.p.o. with a weak outlook for oil prices a sluggish global economy an increased environmental awareness against the use of fossil fuels osama bin job it is there. in other world news lebanon's president michel aoun has addressed his supporters again promising to restore trust in the country's leaders his son in law and foreign minister gibran breasts and also address avani of the presidential palace at bamban north of beirut both have been among the targets of anti-government protesters who have been demonstrating protests that have rocked the country for more than 2 weeks but measured that we have drawn out the past and it is made up of 3 points corruption the economy and the civil state these 3 points are not easily achieved we need your efforts and we need a square filled by both you and the protesters to defend your rights these 3 points are your rights which many are trying to obstruct and this is why we need you to make a big effort but. nobody can get rid of us because we are the pe

believe much of the investment from the riyadh listing will come from wealthy saudi families not foreign investors it's curious timing for the i.p.o. with a weak outlook for oil prices a bearish global economy and increase environmental awareness against the use of fossil fuels osama bin job read that there. munna sara tekken is an international oil and energy consultant he says investors may be worried about iran because international oil commitments and the saudi government's influence on it its there is enough fund of a double the money available the savings and others with their rich families nation families within saudi arabia there are also they also do hold funds outside of saudi arabia and they campaign the statements by their governments and others in the last few weeks has been that saudis should show their patriotism and bring in funds from outside that invest in the saudi aramco national company and their weight has been historically so far controlled and it's a strategy managed influenced by the government its revenue has been going going to the government coffers and more importantly is the independence of saw that i

i've been swan and i'm christiane washington here's what's coming up today saudi aramco is in the running to become the world's biggest i.p.o. as the u.s. stock market continues to break into record territory we are breaking down the biggest stories you'll be talking about this week with our get your shit. what do you want the theme for is looking at a case involving google and oracles that could have enormous implications for copyright laws and whether existing software can be used to build new computer programs we'll break it down a little is known as banking for the young things but where do crypto bloom's go when their business is needed the u.k. for bromance is to be just that will tell you how it works and why that company sees a bright future in the sector i want to get to today so let's get to it. saudi aramco said to price range its range $1.00 trillion dollars putting it in the running to become the world's largest i.p.o. the oil giant plans to sell 1.5 percent of the company in a 20 $5600000000.00 i.p.o. beating ali baba's current record of $25000000000.00 in 2014 however this valuation is still more than what fo

come from saudi arabia. regulator has approved the listing of the state oil giant saudi aramco exact details surrounding the size and scope of the i.p.o. remain unknown. after years of waiting saudi aramco for its biggest climate polluter and the world's most profitable company will offer investors a piece of the kingdom's prize a. state owned aramco accounts for 70 percent of saudi arabia's revenues. the i.p.o. on the riyadh stock exchange could value the company a 2 trillion dollars and make around co worth nearly as much as apple and microsoft put together. for us. i think we are for the listing it will increase our visibility internationally we are a very strong company by sharing a lot of information as required by any listed company that will be a lot of analysts that would review our data and conveyed it with other listed companies. aramco accounts for 10 percent of the world's oil production in the company is the biggest carbon footprint in the world climate campaigners are worried they want fossil fuel companies to scale back and cut carbon emissions not to expand this is a move in the opposite direction. but the economy of s

believe much of the investment from the riyadh listing will come from wealthy saudi families not foreign investors it's curious timing for the i.p.o. with a weak outlook for oil prices a bearish global economy and increase environmental awareness against the use of fossil fuels osama bin job aid are there. well here is some of the official announcement made at headquarters. that he only said this these truly historic we are happy to announce our intention to this the saudi aramco company at the saudi stock exchange market the strategic aim of the company is to ensure that there is earnings for the government and the country according to our board of directors we're going to increase shares to 75000000000 dollars this year the government will as the need arises start distributing benefits to the shareholders. and bring him fresh hot from the doha institute for graduate studies says there's a lot at stake for crown prince mohammed bin sandman and his economic reform package i think this is a key factor for not only the 23rd division of the clown a prince to diversify the economy but also on the. on the on the leadership of the confe

believe much of the investment from the riyadh listing will come from the saudi families not foreign investors it's curious timing for such an i.p.o. with the reek outlook for oil prices a sluggish global economy and increased environmental awareness against the use of fossil fuels osama bin job aid are there. protesters have marched against the presence of sounding led forces on a strategic yemeni island hundreds of people converged on the coalition headquarters on the island which lies in the gulf of aden off the somali coast there calling for the withdrawal of troops from the island. catalan separatists have been protesting outside the hotel where spanish king philippe will be staying when he visits barcelona on monday mccain and his family are traveling to the catalan regional capital after weeks of anti-government demonstrations his 14 year old daughter princess leno is expected to make a speech on monday in an effort to win back support for the world is in catalonia tensions are flared since cotton separatist leaders were given a lengthy jail sentences last month for their role in the region's failed independence. southeast

i.p.o. mean then for the energy market where we need to see who buys the shares that's one thing because if you give us a look into into iran come to see how it works if they do open it up more widely internationally climate campaigners right now are talking about you know having less fossil fuel and separating fossil fuel from money so in some ways this moves towards. towards things like. the opposite direction basically and they've constantly bottled efforts to cut carbon emissions so it's going to see more of a focus on fossil fuels rather than less so in terms of the overall energy market in some ways it's going to a different direction from what we've been looking for before and so is that what's behind the saudi arabia idea of diversifying its economy away from oil well i think one of the things that they've talked about that prince mohammed bin solomon has always said is that they eventually do need to get out of oil they've got maybe 70 years of oil left in saudi arabia so they're thinking about a post oil world and as i've said you know 70 percent of the revenue comes from oil so they're looking at things like. they're

coming up, the latest on aramco's late e-i.p.o. what it says about global oil demands.mes your small screen is your big screen. and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. whether you're travelling around the country or around the house, keep what you watch with you. download the xfinity stream app and watch all the shows you love. su: this is daybreak asia. more fallout in the u.k. from the brexit drama. moody's has cut its sovereign credit rating to negative outlook citing weaker ability to fight policy because of uncertainty over brexit. this comes at the start of an election campaign and agency notes increasing inertia and paralysis in parliament. the leading political parties are fighting for votes, promising higher government spending. a state of emergency in the australian state of new south wales where brushfire risk has reached catastrophic levels. three people were killed and 150 homes dest

believe much of the investment from the riyadh listing will come from wealthy saudi families not foreign investors it's curious timing for the i.p.o. with a weak outlook for oil prices a beer ish global economy an increase environmental awareness against the use of fossil fuels osama bin jobby the other there are lessons speak to money share tacon has an international oil and energy consultant and is live with us from london thank you so much for being with us on our jazzier so the i.p.o. will start off as a domestic i.p.o. listed on the riyadh stock exchange and then later go international how successful do you expect it to be on the domestic market what will be the extent of support from wealthy saudis. i think that would be sufficient i guess of course if you know the a singer you have to wait and see but i would guess that there is enough fund of a role money available of the savings and others with their rich families nation families within saudi arabia there are also they'll also do hold funds outside of saudi arabia and the campaign statements by the governments and others in the last few weeks has been that the saudis shou

to buy the shares those shares come on the market at some time in december the company around co has been valued at $1.00 trillion dollars that makes aramco the biggest i.p.o ever. subscription starts soon for weeks these billboards have lined riyad streets now the subscription period has begun for real investors can sign up to buy shares in saudi aramco. it's their patriotic duty says the government some banks are even offering loans of $10000000.00 euros so rich saudis can buy a piece of the oil colossus into saudi capital there is no public criticism of the planned i.p.o. . dram co company is the crown jewel of investment in saudi arabia and a safe company to invest in and the biggest company in the world thank god it is a good opportunity that crown prince mohammed bin gave us the chance to subscribe to be partners in this success. but the investment is not without risk there are concerns that the saudi powers that be wields too much influence. that iran co is not commercially independent enough of the saudi state and that is that and just how significant are around because all the reserves are they really enough for more than another 50 years independ

believe much of the investment from the riyadh listing will come from wealthy saudi families not foreign investors it's curious timing for the i.p.o. with a recount look for oil prices a sluggish global economy an increased environmental awareness against the use of fossil fuels and some of the job aid is there. well let's get more on this now we're joined by john anon a former deputy prime minister in jordan and also an economist and he's joining us live from the jordanian capital amman very good to have you with us on al-jazeera so after several delays the state of markets being what they are while saudi doing the i.p.o. now and what they've risking losing credibility if they didn't list after saying that they would for some long. well there has been long in with the so i believe that there would should be a time where the saudis after the review resisting their plan and amending the plan to go it to international markets they now shift the myth that into a 2 state approach the 1st assignment of consignment will be sold in the stock exchange market they would be opening the stocks for saudis and for whether companies or individu