that reform is what mohammad bin salman is selling, as state owned oil company aramco plans to go public diversify. mohammad bin salman has vowed to modernize, and fight extremism. >> ( translated ): we only want to go back to what we were: moderate islam that is open to the world, open to all the religions. 70% of the saudi people are younger than 30 and, quite frankly, we will not waste 30 years dealing with extremist ideas. >> reporter: mohammad bin salman has also led a muscular foreign policy to confront iran, especially in yemen. for two years, a saudi-led coalition has targeted iranian allies, the houthis. the war has caused the world's worst humanitarian crisis. and this weekend, saudi announced a total blockade. that was in response to the houthis' launching a ballistic missile at saudi arabia. a saudi military spokesman said it intercepted the missile, and blamed iran. >> ( translated ): the coalition has ample evidence to prove that iran is providing weapons to the huthi armed group. >> reporter: saudi's anti-iran policy extends to lebanon. prime minister saad hariri has led a

salman isd bin marked. -- theres own personal are minutes in which are not so powered. aziz was in the same position, but not the same as mohammad bin salman. now he has to reform as a leader in economic and for a policy. but his most important source of power is relying numbers. -- reliable numbers. there is plenty of power. it is an absolute monarchy. maybe you can simply execute. toi think if you start tinker with these traditional resources of power, your opening up a kind of -- a can of worms you might want to open up. and when you are engaged in such a wide-ranging attempt to reformulate the economic or social religious aspects of society. there is a danger of being spread through -- too thin especially with issues going on, and try to do too much too fast. on every front at the same time, that would be another concern i would have going forward. think mark probably answers this question, in terms of how these deaths are taken over the past several weeks will impact of the relationship between the saudi monarchy and the fundamentalist rid the just -- fundamentalist religious establishment. >> the establishment, they are on

>> mohammad bin salman. >> mohammad bin salman. >> yeah! wn prince mohammad bin salman is the favorite son of saudi arabia's ruler, king salman, and he wants to modernize. the crown prince is only 32 years old. and he isn't just the king's anointed successor, he is already enormously powerful in his own right. prince mohammad used that power to round up more than 200 members of the saudi elite, all accused of corruption, now locked up in this luxury hotel. critics say the prince is targeting his detractors. he has also reined in the country's religious police. they still patrol the streets and told me to cover my hair with a scarf. >> he said i should cover my hair. these days they can hand out advice not punishments. >>> if you didn't indulge in the frenzy, don't worry, experts say the discounts will likely be with us throughout the holiday season. tony dokoupil its at an amazon warehouse in new jersey. >> reporter: when you shop amazon online you are really shopping here, at one of the company's 75 fulfillment centers. each dedicated to th

. - [narrator] king salman's youngest son, prince mohammad bin salman has led the initiative to reform with an ambitious national transformation plan called vision 2030. - prince mohammad bin salman is driving saudi vision 2030 and he's using the low oil prices as a good excuse to introduce reforms, to have government operates and reforms he want to introduce into the economy as well. - it's an opportune moment really to affect change because you can really only start a process of change usually, in history has shown us that when you face a crisis, otherwise, people are complacent. - we know that about the economic vision out of it which includes three main things. number one, how you increase revenue without depending on oil? two, is basically you're talking about cutting expenses. so now, a lot of things that subsidies that the saudi government used to give which is extremely important to keep the loyalty of the population and then you have the idea of investments outside oil and basically, the main focus of that is taken about 5% of a aramco to an ipo which would be 2.5 trillion dol

critics say it is an attempt by the saudi crown prince, mohammad bin salman, to consolidate his power our security correspondent has the story. is he a: reformer or sickly hungry for power and overambitious? crown prince mohammad bin salman has been described as both after ordering a wave of high-profile arrests. reportedly locked up inside this riyadh hotel in great comfort are 11 princes, foreign ministers, and numerous other prominent saudis also cap in what has been called an anticorruption purge. top of the arrest list is the outspoken billionaire prince talal, investor in apple, friend of prince charles, and now among those accused of abuse of power. hands ofnotably in the the conference after the man in charge of the national guard was replaced from removing a possible rival. -- onlypowerful friends 32 years old, he has formed a close bond with the trump administration. he has declared a war on religious extremism and rampant corruption. the shakeup at the top in saudi arabia is unprecedented. it has given this man, crown prince mohammad bin salman, enormous control of the rich

when you talk about one man, are you talking about the mohammad bin salman, the crown prince and the or are you talking about the actual king of saudi arabia, king salman? let's face it, the monarch is king salman, but i suspect you are not talking about him. i am talking about crown prince mohammed. king salman has delegated all responsibility to his son. not officially, but in reality. all right. your point about the end of consensual decision—making within the royal family raises an important question. and surely, mohammed bin salman and his father are delivering a simple message, there are very many corrupt people in the royal family. they have now put under arrest 11 princes being detained in the comfort of the ritz—carlton. and the message is quite clear. these people have been responsible of milking the kingdom of billions and billions of dollars. yes. very much correct. corruption in saudi arabia is endemic. it has depleted saudi resources. it has corrupted even the mindset of the business environment. and it had to end. and we, saudi writers, have been saying that. so, he ha

following an anti—corru ption investigation, but critics say it is an attempt by saudi crown prince mohammad bin salmane story. visionary reformer, or simply hungry for power and over—ambitious? saudi arabia's crown prince mohammad bin salman has been described as both, after ordering a wave of high—profile arrests. reportedly locked up inside this riyad hotel, in great comfort, are 11 princes, four ministers, and numerous other prominent saudis, all swept up in what has been called an anti—corruption purge. top of the arrest list is the outspoken billionaire, prince al—waleed bin talal, owner of london's savoy hhotel, investor in twitter and apple, friend of prince charles, and now amongst those accused of corruption and abuse of power. the well—funded saudi military is now totally in the hands of the crown prince, after the man in charge of the national guard was replaced, removing a possible rival. and he has powerfulfriends. only 32 years old, he has already forged a close bond with the trump administration. he has declared war on both religious extremism and rampant corruption. the shake—up at the

i think mohammad bin salman on wants to put a strong face-off for the kingdom and what iran is doing. i think there is some added instability to come, especially in places that are traditional battlegrounds where we see saudi and iran challenging each other. to theif we go back events of the last few days, is it being seen more of an economic purge than a strategic purge in that way, how much more is there to come? emily: i think by removing people like the minister of when he was summoned close to the crown prince, i think there is an effort to lay out this common ground, trying to say that no one is above the law. of course there is a political aspect of this, as well, there is an effort to make sure it are no detractors, no dissent, nobody pushing, nobody else will enough to push against what the ground princes doing. there is anticorruption side and the political side, making sure he is the ultimate power in the kingdom. it is a monarchy, and that is not entirely surprising, especially when we know that by winning his place in the secession -- succession line in a somewhat scanda

it tells me mohammad bin salman wants to become king and he is willing to commit to risky moves as partssarily tells us that mohammad bin salman, how people behave in the future beyond the short-term. part of what he has to do or thinks he has to do short-term is break the power structure to really become the dominant and only decision-maker in saudi arabia, basically restructuring the kingdom. thisnk that long-term if policy and the pace of change remains constant, it would be negative for stability in the kingdom. or purge, iuption don't think it is necessarily positive or negative. it is a mixed bag. if we see an end to the 20% cut by different royals, it will be positive for foreign investors. great to get your perspective, thank you for joining us. we can follow more on this three and the market live blog at the bloomberg. get a market run down in one click your there is commentary and analysis of bloomberg expert editors, and they are hoping in on this story with saudi arabia. and speaking of your investments, president trump is speaking to american and japanese is misleaders righ

among those purged was one who was a contender, for decades older than mohammad bin salman salman.is a way to make sure he has the throne. , what youhe americans think president trump and his son-in-law that new about this? robin: it is interesting. the relationship between saudi arabia and the united states has been transformed under president bush. there was a lot of tension during the obama administration. charlie: president bush or president trump? sorry, president trump. there was a lot of tension under the obama administration. trump made a visit to the kingdom. they have communicated regularly. threekushner has made trips, the last one, unannounced in october, and the run-up to this massive surge. the pretext was to talk about the process. jared kushner has relations to the crown prince. they are both in their 30's, they talked well into the night, for a.m., about regional issues. closeness and a sense that the trump administration had implicitly, if not explicitly, approved what is happening. president trump called it the king on saturday from air force one on his way to as

bin salman, to consolidate his power. our security correspondent frank gardner has the story. visionary reformer, or simply hungry for power and over—ambitious? saudi arabia's crown prince mohammadsts. reportedly locked up inside this riyad hotel, in great comfort, are eleven princes, four ministers and numerous other prominent saudis, all swept up in what has been called an anti—corruption purge. top of the arrest list is the outspoken billionaire, prince al—waleed bin talal, owner of london's savoy hhotel, investor in twitter and apple, friend of prince charles, and now among those accused of corruption and abuse of power. the well funded saudi military is now totally in the hands of the crown prince, after the man in charge of the national guard was replaced, removing a possible rival. and he has powerfulfriends. only 32—years—old, he has already forged a close bond with the trump administration, he has declared war on religious extremism and rampant corruption. the shake—up at the top in saudi arabia is unprecedented. it has given this man, crown prince mohammad bin salman, enormous control of the richest arab nation. this matters to the rest of the world. why? because a sta

mohammad bin salman has taken on all three pillars. but in doing so he is altering the very substance of the saudi regime. time will tell whether it will work. the greater puzzle and greater danger is that while taking on this bold and risky domestic agenda, the crown prince has also made a series of aggressive moves abroad. he has escalated saudi intervention in yemen, with air, land and sea blockades and missile strikes. he was hoping to stabilize the shiite dominated government. all of this is to fight back against eiran's growing influence. but for several years now, the saudis and americans have been in an unspoken alliance with hezbollah against the islamic state. the islamic state is being largely defeated by american backed kurdish forces and iranian backed shiia militia. it's turned into a disaster, creating a failed state on iran's border. the shiites in lebanon did not take the bait and so far they have seen the responsible party refusing to plunge the country into instability. but everywhere in the middle east, tensions are

it has given this man, crown prince mohammad bin salman, enormous control of the richest arab nation.matters to the rest of the world. why? because a stable saudi arabia is seen as an anchor of stability in a volatile middle east, but purging so many senior figures so publicly is a risky move. the crown prince may be popular with young saudis, but his enemies are multiplying. the house of saudi's really sensitive to this notion that it's corrupt, that it's feeding off public funds, so he will be popular with those measures, but at the same time there is an entrenched elite that has grown fat off the system, and it's going to fight back, it's going to push back, so he has this balance between popularity on the street and raising tensions within the elites in society. much will now depend on the continued loyalty of the tribes and their leaders. modern saudi arabia only became united in 1932. there will be now fears that the glue which held it together risks becoming dangerously unstuck. frank gardner, bbc news. a century ago this week, bolshevikforces, encouraged by vladimir lenin, sto

how do you make sure that that institution stays loyal to you, mohammad bin salman, the crown prince? there is no good answer. same with the security service. there is an internal security service and foreign security service. who's going to control those services? will the professionals feel comfortable in the new environment? we don't know. the m.b.s. needs to be careful as he tries to establish greater control he doesn't create new problems. >> rose: where is the crown prince he overthrew in all of this because he's under house arrest? >> the former prince has essentially disappeared, was replaced suddenly last summer by m.b.s. >> rose: first move. first move in the consolidation, the power play. he wanted to be sure he would be able to succeed his father, king isman who is 81. he has a violation where he wants to take saudi arabia. people in the west would find it attractive. getting across the transition period is going to require a kind of authoritarian power that's going to be very uncomfortable for us. >> rose: absolute power corrupts absolutely. >> saudi arabia is not easy to

towards a run directly but i don't know exactly what is going to happen but what is clear is the mohammad bin salmaning to consolidate power and is attacked by the houthis on the capital is an embarrassment, to say the least, because they have been launching of your —— will walk the 2.5 years and claiming success in a sense that with a lot of pressure on him, he's taken on the much responsibility, is the head of the war on yemen, the head the islamic kind of campaign against terrorism, and is also now the head of the campaign against corruption in the kingdom, that he is now wearing many hats and is trying to do a lot at the same time. president trump has arrived injapan on a five—nation asian tour set to be dominated by the crisis over north korea's nuclear programme. later in the week, the president will travel to south korea, and then china, the key stop on his five—nation tour of east asia. sophia tran—thomson has the latest. touchdown in tokyo. after flying in on air force one from hawaii, the president and first lady met with us troops stationed in the region. much to the delight of the greeti

at the same time as this is all happening, crown prince mohammad bin salman is pushing an ambitious reforml, that will happen from nextjune. economically, there's multiple initiatives to wean the economy off its oil dependence. plus, you may have seen the high—profile anti—corru ption crackdown. more then 200 high—profile men were taken into detention. so what does this add up to? lyse has been speaking with the saudi economic minister about those still being held. there is a process, the public prosecutor is in charge. we will wait to see what will happen in this investigation. observers have described this crackdown as a seismic shock. unprecedented in saudi history. you must have got nervous phone calls from investors. no, i made them also. they do come here. the majority of investors are saying, look, this is the kind of environment we like to see. most of them, because they invested here, they know as well that going forward is what really matters. it is dealing with a well governed institution that matters to them. there was talk of hundreds of billions of dollars that could be taken

saudi leader crown prince mohammad bin salman wants it known he means business. >> the detention of peoplecharges of corruption who are in possessions of high authority in trade throughout most of the world's confidence also proves the economic side is considered important to our leadership. reporter: the prince is among those arrested, one of the world's richest men. from riyadh's tallest skyscraper he controls broadcasters and a real estate empire. over 1200 bank accounts were frozen with more to come. traders at the re-add stock exchange were initially nervous following the moves. investors said there would be a negative impact on the economy or oil prices. but the moon sued -- the mood soon light and. -- soon ligtneed. -- lightened. >> no one is above the law. not even a prince or a minister. reporter: yet, questions remain -- is this really about fighting corruption or is it simply a way of eliminating gloom -- eliminating opponents? brent: i am joined in the studio by a correspondent for dw's arabic service. what are we seeing right now in saudi arabia? is this a crown prince who is

mohammad bin salman has presented the arrests as a crackdown against corruption. they would also seem to consolidate his position as the most powerful man in the kingdom. among those health is the --ntries were just investor the country's richest investor, billionaire al-waleed bin talal. very few have been allowed into the hotel, but our international correspondent lyse doucet was given rare access. lyse: we drive in under police escort just past midnight. no one enters without official permission. the world's most talked about hotel. riyadh's most palatial, most prestigious, now a gilded prison. i'm taken in by saudi officials, told don't film faces, don't film conversations. here in the early hours of the morning, there is still people in the lobby drinking coffee, as you would find in any of the five-star hotels in the capital. most of the people forced to stay here are keeping to themselves, trying to limit any further damage to their reputation. the mobile phones have been taken away, but there is a hotline available to them where they can call lawyers, fami

the purge is reportedly being lead by 32-year-old crown prince mohammad bin salman. >>> "bloomberg" says people are getting their first payoffs by bernie madoff. more than 45,000 victims worldwide will receive more than 7$775 million in the first distribution. >>> and "variety" looks at the life of emmy-award-winning actor john hillerman. he played higgins on the tv series magn"magnum, p.i." and t movie "blazing saddles." john hillerman was 84. >>> still to come, "star wars" saga continues. the next generation. at risk of serious infection. put you neulasta helps reduce infection risk by boosting your white blood cell count, which strengthens your immune system. in a key study, neulasta reduced the risk of infection from 17% to 1%... ...a 94% decrease. applied the day of chemo, neulasta onpro is designed to deliver neulasta the next day. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to neulasta or neupogen (filgrastim). ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries, a

saudi arabia will be how mohammad bin salman succeeded in during the epidemic of employment. the other serious thing is high expectation. he made the young people reach the sky and in five years time, he wants to see this futuristic city in the north, also in the north of my hometown, medina. he has to show them what he had promised. the most important thing he has to for phil is unemployment. we are talking about 4 million people unemployment in saudi arabia, and 250,000 people every year in an economy that is controlled by foreign labor. europetish exited because of 8.9% foreigners in their workforce. 75% foreigners who control our workforce in saudi arabia. that is not an ordinary economy. every economy needs to be restructured and i wish mohammad bin salman will work from the bottom and fix the economy before he builds new cities, but if he insists on his style of building from the top down, i willg new cities, forecast bankruptcy for saudi arabia. i hope not. i hope he will change course and go to the basic economy, economy 101 and start with jobs rather than building ne

his young cousin, mohammad bin salman, is driving this spectacular dragnet. on alleged corruption, abuses of power, while consolidating his own power. i'm taken to meet one suspect. he doesn't give me his name. says he spends his time with his lawyer, focusing on his case, i'm told not to ask about it. but i get a briefing. senior officials conducting this crackdown say it's not a formal investigation yet. they call it a friendly process. but it's clearly fraught. we're being told that when people were brought here around midnight on novemberfour, they were understandably angry. some of them thought this would just be a show. and it wouldn't last. and then when they realised they were here to stay, they were furious, almost everyone here, 95% i was told, are willing to make a deal to give back what are said to be substantial sums of money in order to get out of here. and so far, seven people have walked free. i was told they proved their innocence. many saudis welcome an end to the rampant corruption in the kingdom. there are risks, too. the ambitious crown p

time does not comment on our choice until the publication, which is now, saudi crowned prince mohammad bin salman is in the lead with 20%. tied with 5% is donald trump, the dreamers and the me too movement. >>> uber keeps making news. this week a driver posing as an uber driver was charged with sexually assaulting a woman at american university. then it came out the company was hacked. millions of users had their data compromised and now a driver came to us for help. here's transportation reporter pete muntean. >> it's stressful. >> reporter: our drive showed us her uber app but -- driver showed us her uber app but not her face. she is worried about her safety and her job if word got out. >> next time i may not be so lucky. >> reporter: our driver said she was assaulted earlier this year. three men came into her car, rude, loud and in her physical space. they left before she could call the police. but all she got was a seemingly canned response. >> i had to think about it do i really want to do this anymore? >> reporter: on monday a former uber drive was charged with sexually assault -- driver wa

the heir to the saudi throne, mohammad bin salman, ordered the arrest of 11 of his royal cousins andozens of powerful military officers and businessmen on corruption allegations as he tightens his grip on power and pushes for more reforms. in the meantime, just hours later another saudi prince was killed in a helicopter crash near the border with yemen where tensions are escalating and a missile fired by rebels in yemen saturday was intercepted near the saudi capital. the saudis say iran was behind it. they're warning the launch could be considered an act of war. >>> new details now about senator rand paul's condition as he recovers from an alleged attack by his neighbor. paul's senior advisers say the senator suffered five rib fractures and bruised lungs after the 59-year-old neighbor, rene boucher, a fellow doctor, tackled him from behind on his own property. boucher is charged with assault. it's unclear what was behind the alleged attack. no word if it was politically motivated. >>> also, one of the most powerful state lawmakers in kentucky stepping down amid sexual harassment all

crown prince mohammad bin salman, who's in charge of the new anti—corruption committee, appears to haveplaced. we'll bring you more on that as we get it. we stay in saudi arabia because state media there says the military has shot down a missile over the capital, riyadh. officials believe the weapon was fired from yemen,

crown prince mohammad bin salman, who's in charge of the new anti—corruption committee, appears to haveidelined powerful rivals. it seems the heads of the saudi national guard and navy have been replaced. we'll bring you more on that as we get it. we stay in saudi arabia because state media there says the military has shot down a missile over the capital, riyadh. officials believe the weapon was fired from yemen, where houthi rebels, backed by iran, are fighting the saudi—backed government. mohamed taha from bbc arabic says it's clear the houthis intended to cause major damage. it could not be denied because, as you said, whether the missile or parts of it hit the airport or a building in the airport, whether it has been intercepted or not, but you know, at the end of the day, there is a fire, there is explosion in parts of the airport. the fact that these missile managed to get to riyadh is significant. i'm sure what happens tonight will have a very interesting effect on what happens in the war in that era. mohamad taha of bbc arabic. and in a further development in the region, iran ha

his young cousin, mohammad bin salman, is driving this spectacular dragnet.his own power. i‘m taken to meet one suspect. he doesn‘t give me his name. he says he spends his time with his lawyer, focusing on his case, i‘m told not to ask about it. but i get a briefing. senior officials conducting this crackdown say it‘s not a formal investigation yet. they call it a friendly process. but it‘s clearly fraught. we‘re being told that when people were brought here around midnight on november ath, they were understandably angry. some of them thought this would just be a show. and it wouldn‘t last. and then when they realised they were here to stay, they were furious, almost everyone here, 95% i was told, are willing to make a deal to give back what are said to be substantial sums of money in order to get out of here. and, so far, seven people have walked free. i was told they proved their innocence. many saudis welcome an end to the rampant corruption in the kingdom. there are risks, too. the ambitious crown prince risks creating enemies and uncertainty, which could

said he developed a close relationship with the crown prince, mohammad bin salman.he crown prince came to tokyo. someone said they met for 45 minutes. and as a result, saudi arabia agreed to invest $45 billion into his vision fund. he jokes that is $1 billion a minute, not bad for a meeting. the two men have developed a close relationship. saudi arabia is helping putting capital into this investment used for uberhas and other ride hailing companies. now it looks like softbank will help in making these investments into saudi arabia. to put that money in context, saudi arabia had $7.5 billion in foreign direct investment last year. this would roughly double the money coming into the country, a big deal for them. betty: thank you, peter ahlstrom. let's look ahead to the future of health care with california institute for regenerative medicine chairman, coming up in half an hour. our special look at the future of health care. yvonne: tencent posts its fastest growth in seven years. but can it keep up? we will get a view. this is bloomberg. ♪ yvonne: this is "daybreak as

as a power are seen play by saudi crown prince mohammad bin salman. global news 24 hours a day by 2700 journalists and analysts in over 120 countries. this is bloomberg. up, we will bring you these comments live. this is bloomberg. ♪ president york fed william dudley is giving a speech at the economic club of london. let's take a listen. >> we started the search process at the new york fed. to do a search, you have to be public, so it is public now today. as we mark thedo 10th anniversary of the onset of the financial crisis, i want to draw some lessons from that harrowing experience and consider what the implications are for regulatory policy going forward. as always, what i have to say reflects my own views and not necessarily those of the federal reserve system. a financial crisis can have great consequences that can linger for many years. the toll from the financial crisis was severe. 9 million jobs lost. 8 million housing foreclosures. the deepest economic downturn since the great depression. moreover, the road back has been long and slow, despit

the kingdom's 32—year—old crown prince mohammad bin salman who became the heir apparent this year, hasrruption drive, including billionaire prince al—waleed bin talal, and ten other princes, one the chief of the national guard. it's also being described as a move to consolidate his power by eliminating rivals opposed to his social and economic reforms plans and eventual succession as king. the arrests and ministerial changes amount to a fundamental transformation of the state as it has existed since the 1960s. he could now repudiate wahabbism, the fundamentalist interpretation of islam which would have an impact internationally. mike thompson reports. few outside saudi arabia had heard of prince mohammed bin salman before his father became king in january 2015. since then, the 32—year—old has become the most powerful man in the world's biggest oil—exporting nation. after being named first in line to the throne six months ago by his father, king salman. the prince's rise has been rapid, and his policies and methods controversial. never more so than on saturday night when under his order

arabia's crown prince, mohammad bin salman said today, the ballistic missile launched at the kingdomrebels was, what he calls a direct military aggression by the iranian regime. and response, a saudi led coalition ordered the closure of all ports and grounded all humanitarian flights to the war-torn country. predicts shale oil production in north america will grow faster than expected in the next four years. therding to the cartel, shale industry will produce seven point 5 million barrels a year by 2021. that is 56% higher than opec forecast a year ago. output cuts this year triggered an oil-price rally that helped american producers. the former cattle and president addressed a group of visiting mayors from catalunya read he said next he will defeat at the ballot box what he calls the spanish government repression of catalunya's wish for independence. spanish government dismissed the regional government and parliament because of attempts to secede from spain. madrid says it is upholding the law, but critics claim being separatist allies, they are being persecuted. global news, 24 hou

in a massive shakeup by king salman aimed at consolidating power for his son, crown prince mohammad bin salmane main architect of the kingdom's war in yemen. among those arrested was prince alwaleed bin talal, one of the world's richest people, with an estimated net worth of at least $17 billion. talal has investments in many well-known u.s. companies, like apple, twitter, citigroup, and rupert murdoch's media empire news corp. the arrests, on unspecified corruption charges, came just hours after the crown prince convened a new anti-corruption committee with wide-ranging powers to detain and arrest anyone accused and to search their homes and seize their assets. the arrests came as the white house said president trump called king salman to offer thanks for the kingdom's purchases of billions of dollars in u.s. weaponry, while praising what it called the kingdom's modernization drive. after these arrests and the consolidation of the prince's power, trump tweeted his support for the saudi arrests, writing -- "i have great confidence in king salman and the crown prince of saudi arabia, they know

finally, it sends a message about who was in charge, and that is mohammad bin salman, the crown princenus: he has, indeed, and his audience is clear. but from the market's perspective, a couple different things have happened. the ipo got away, but the markets have been hit, and that was really a rush to get the properties listing up and away, wasn't it? tracy: that's right. saudis have to walk a fine line. they are doing this corruption crackdown, the unexpected crackdown, at a time when they are also trying to attract foreign investment. meanwhile, we have seen the uncertainty caused by recent events filter into the region assets as a whole. the ipo was a really good example. this was the biggest ipo since 2014. yes, it was coming from a real estate company, at a time when some people found questionable, it was always potentially going to be difficult, but we know it became increasingly difficult as events in saudi unfolded. when they first started the ipo, it was october 26, a week before the event went down. it apparently became increasingly hard to get investors committed to the de

. >> young man, mohammad bin salman on the right-hand side. >> he wants to prove himself.he is 30 years old. he has no track record of any islanders kind of success. he was instrumental in the war in yemen who is going padly for saudi arabia. he needs to compensate for that in some way. he is flexing his muscles, using iran as the baggie man has always been a go-to play for many arab leaders. and he's doing the same. yes, the trump administration signed off on it. you know what, each if they hadn't he would have done the same anyways. my take. >> bobby, thank you for joining us today. bobby gouache, general expert on all things in the world. >>> developing news in the united states. governments continue fight to isolate north korea. the trust department issued new sanctions the day after the country labeled the country a state sponsor of terror. joining me, a person who understands these things better than most of us. agar, what do you make it of. tillerson said yesterday these sanctions are going to matter actually probably more than the declaration of north korea as a st