joe kayser the c.e.o. of german industrial giant siemens announced today that he'll pull out of the davos in the desert now that's the massive investor conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal. but for kaiser and his company it's not an easy one. preparations are well underway the mood though is muted said his future investment initiative a conference known by some as davos and the desert kicks off in riyadh on tuesday but the number of participants is dwindling delicious business leader to pleasure the event is this man seaman c.e.o. joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist to malta shoot a turnaround since last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future investment initiative twenty eighteen it's the cleanest decision but not the most cou

joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal to shoot a turnaround last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future

chief christine legarde have both canceled their attendance joe kayser the c.e.o. of german industrial giant siemens has pulled out as well albeit reluctantly. kitty dimitri a c.e.o. of their russian direct investment fund an idea. the organizers had launched a charm offensive to ensure the conference met super billing with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one. that among those giving the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. men saying the business of business is doing business business has also the responsibility is this leaders are also moral leaders in our well now with. ford j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plans speakers posted earlier on line. the three day meeting dubbed davo

physical and let's do business and where starting with some breaking news siemens chief executive joe kayser has just announced that he will not attend the future investment initiative conference in saudi arabia following the killing of journalist john mica shockey the german engineering giant is one of the last companies to decide against sending its top executives to the davos in the days it many companies including j.p. morgan and ford had previously pulled out of the event as has u.s. treasury secretary statement. italy is here to stay prime minister because he says his country won't leave the european union but that it will stick to its deficit hike that's despite e.u. criticism he argues the economy needs a lift biggest member state germany has warned room to be careful with debt and moody's has cut italy's credit rating by one. it's a difficult position that you use economics commissioner pierre moscovici see says that italy should decide its own fiscal policy but he has a stipulation. on the other hand it has to respect a common rule e.u. countries have done for ten years policies th

of germany's siemens joe kayser. kayser took his time before announcing he'd pull out of the event allegations of saudi involvement in his death forced his hand. his events was one of several business giants that found themselves caught between morality and profit companies that pulled out included j.p. morgan bert and ford exactly how many guests cancel this still unclear the organizers removed a list of plan speakers from their website just what i hope we value for school but others were happy to attend the three day meeting which promised major billion dollar deals. saudi arabia wants to diversify its economy and needs large scale investment for a range of new infrastructure projects job creation is another push factor one in three people under thirty in the kingdom are currently unemployed investors hadfield saudi crown prince mohammed bin sun mon as a positive influence of the future after he lifted the ban on cinemas and allowed women to drive but now many companies are distancing themselves from the regime. sh

joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal. a turnaround since last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future investment initiative twenty eighteen it's the cleanest decision but not the most courageous one and it's not a decision against the kingdom or its people it's a decision based on how much responsibility one can assume at one time for now the truth must be found and justice must be served. cases one of several business leaders who find themselves in a moral quandary in the run up to the side of the conference but the wording of his statement especially his eagerness not to condemn his would be host it's a reminder that for many companies this is primarily a tradeoff between profits and p.r. . our financial correspondent. following. he joins us now from yan's american firms were much quicker to pull out of this conference days ago it likely wasn't an easy decision either so what's at stake for

siemens chief executive joe kayser is the latest to pull out of the future investment initiative following the killing of journalists. the german engineering giant is one of the last companies to decide against sending its top executives to the posts in the days that many companies including j.p. morgan and ford had canceled as well as u.s. treasury secretary stephen moved. to give a response to this story from pocas blitz a financial corresponded frank but how. is this going to have knock on effects i mean we're talking about just one called friends but is this going to have no one affects on the economy as a whole for saudi arabia. a lot of people are not going to want to hear this but it's probably going to have a very minimal effect on saudi arabia our first three reasons first at this conference business talks are still going to happen russian direct investment fund is going even the u.s. and u.k. do not want to get rid of their defense contracts so they're going to send representatives and with banks like they just b.c. and j.p. morgan pulling out well they're pulling out their c.e.o

both canceled their attendance there joe kayser the c.e.o. of german industrial john simmons has also pulled out albeit reluctantly. so what does all that mean for the kingdom and those doing business with it let's bring in somebody who's of our analyst from medical finance and joins us now from dubai we've heard that countless high profile figures have pulled out of that conference does that hurt the kingdom financially i wouldn't say it would hurt them financially in terms of fifty to. seventy ruining part of that image that crown prince had been so none has been getting so much effort into building in the recent months over economically it does it wouldn't affect so that the saudis the largest oil exporter one of the largest oil exporters in the world and in fact probably investment fund has been investing heavily in stocks all around the world especially in the states. so for the companies for example who have actually pulled out do the saudis watch them carefully and do they have a long memory on these companies expect when all this is b

pulls out even as chief executive joe kayser has announced that he will not attend the future investment edition of conference in saudi arabia it follows the killing of journalist. the german engineering giant is one of the last companies to decide against sending its top executives to the davos in the desert many companies including j.p. morgan and ford had previously pulled out of the event as has u.s. treasury secretary stephen moore nugent. to get the response to this story from puts a financial correspondent in frankfurt. is this going to have knock on effects i mean we're talking about just one call friends but is this going to have no one effect on the economy as a whole for saudi arabia. oh but a lot of people are not going to want to hear this but it's probably going to have a very minimal effect on saudi arabia first three reasons first at this conference business talks are still going to happen russian direct investment fund is going even the u.s. and u.k. do not want to get rid of their defense contracts so they're going to send representatives and with banks like in just b.c

joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal to shoot a turnaround to this last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future investment initiative twenty eighteen it's the cleanest decision but not the most courageous one and it's not a decision against the kingdom or its people it's a decision based on how much responsibility one can assume at one time for now the truth must be found and justice must be served. cases one of several business leaders who find themselves in a moral quandary in the run up to the saudi conference but the wording of his statement especially his eagerness not to condemn his would be host it's a reminder that for many companies this is primarily a tradeoff between profit and p.r. . now our financial correspondent yens cortez been following this news surrounding the saudi conference he joins us now from new york yes american firms were much quicker to pull out of this conference

joe kayser the c.e.o. of german industrial giant siemens announced today the hill poor out of the davos in the desert now that's the massive investor conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal. but for kaiser and his company it's not an easy one. after ations are well under way the news though is muted said his future investment initiative a conference known by some on.