the program 1st though saudi arabia's state oil giant aramco is going public crown prince mohammed bin solomon has given the green light for an close much anticipated initial public offering its according to news into the sea waters you know it's meant had been expected last month but was reportedly delayed to allow the kingdom to secure purchased promises from institutional investors details of the planned i.p.o. are still scares the formal announcement is expected later this week. the world's 2 top economies seem to be edging closer to a trade deal on friday both the u.s. and chinese negotiators acknowledged meaningful progress in their talks had been made china even spoke of a consensus on principles the news comes as the world trade organization has for the 1st time ever authorized china to snap tariffs on u.s. imports in a year's long dispute over u.s. antidumping practices for now though all eyes remain on the proposed phase one deal everyone wants to know where u.s. president donald trump and his chinese counterpart xi jinping will meet again and finally think a new trade deal originall

must change to survive well comp last forever some analysts say around 70 more years prince mohammed bin solomon wants cash to diversify. the prince wants tourism manufacturing and renewable energy to drive growth in the post oil world he has major ambitions to transform saudi into a top 5 global tourism destination. now iran calls it way to an i.p.o. might be overshadowed by risks like geopolitical tensions in the region or ironical as a vulnerability in the face of attacks like the kind that took place in september earlier i asked their wall street correspondent younes quarter how big of a consideration these risks are for investors. well overall the numbers are quite stunning just if you look at the profit in the 1st 9 months of this year it was more than $46000000000.00 that took exxon mobil for example 4 and a half years to even come close to those numbers so if you look at amazon dot com also one of the richest companies when it comes to market valuation on the planet since their start they made about 40 percent of profit what saudi aramco did in the 1st 9 months of the year but clearly th

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 looking at tourism in a big way there's been a lot of efforts recently to promote tourism and they're looking at manufacturing renewable energy growth and focus on small or medium sized enterprises so they're basically looking for any other way and you know the way to generate revenue we've seen places like the emirates they've bought football teams i can see months usually in the emirates airlines and things about having seen as much of that coming from saudi arabia so they've got a lot of pressure on them too they're feeling a lot of pressure not to diversify they do actually have 10 percent unemployment too so it's this over reliance on oil even though it's a very very rich country and they've still got a lot of

pay in an effort to list the company at a valuation that is acceptable to the crown prince mohammed bin solomon who is making this i.p.o. the centerpiece of plan economic reform saudi is officially combining the i.p.o. to the kingdom and gulf states around the world most profitable company but this is a bet on oil at a time when global demand is expected to slow in 2025 due to measures to cut greenhouse gas emissions and the. i think the use of evey's there's also the overhang political risk as saudi government will continue to control the company given these risks for an institutional have been unwilling to sustain the $1.00 trillion dollar valuation and aramco now has instead that has to rely on local demand this is a huge blow as the i.p.o. was meant to bring in a large pool of quality investors who are also shareholders and around goes competitors such as royal dutch shell and exxon mobil aramco will not be able to sell shares directly to investors in the u.s. and other markets as i.p.o. will be restricted to saudis and a select group of 1500 qualified foreign investors permitted by market

stock exchange it's hoped billions of dollars will be raised to help pay for crown prince mohammed bin solomons reform plans osama bin jobs reports. the world's most anticipated stock offering is finally happening after years of hype and several delays saudi aramco the world's largest oil producing firm is being listed in riyadh to the exchange and shares are expected to be priced in december it's no ordinary company around because the engine driving saudi arabia's economy which relies on oil revenues. this is these truly historic we are happy to announce our attention to this the saudi aramco company at the saudi stock exchange market the centerpiece of crown prince mohammed bin sole man's vision 2030 saudi aramco stock offering is meant to bring in enough revenue to diversify the economy the plans of being listed in the world's leading exchanges had to be scrapped because of transparency fears there is still talk of an international offering after the internal listing in saudi arabia the 1st idea was either to list it either in new york london or in hong kong kong but there have been some iss

flotation is intended to raise $100000000000.00 for economic reforms spearheaded by crown prince mohammed bin solomon the saudi government has valued aramco a 2 trillion dollars but some bankers say one trillion is more realistic the i.p.o. has been hindered by a series of delays from a loss of investor confidence over the murder of saudi journalist to my high shoji to september's who feel drawn attacks on iran go facilities which have to its crude output and knocked out 5 percent of the world's oil supply here's what saudi aramco chief executive had to say while confirming plans to list on the riyadh stock exchange companies at the south the stock exchange market the strategic m. of the company is to ensure that there's 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. in other news lebanon's president has promised to restore the people stressed in government in the face of widespread protests addressing supporters at a

evaluation on the oil giant aramco of $1.00 trillion dollars well below the target of crown prince mohammed bin solomon $3000000000.00 shares were priced at around $8.00 each raising just slightly more than $25000000000.00 but international investors could miss out after balking at the price. konami said it explains while backing 2016 crown prince mohammed bin some man wanted to float around co with a valuation of 2 trillion dollars immediately investment bankers hired to promote the i.p.o. could not make the math add up or argued with oil prices at $75.00 a barrel the company could be worth $2.00 trillion dollars but opec is warning oil demand will slide over the next 4 years and that current prices it's only worth 1.75 trillion but there are other ways of following companies one method is dividend and our run co has guaranteed 5000000000 over the next 5 years which valued the company at 1.6 trillion dollars even after the sale of the saudi government will only 98 percent of aramco which means the government can decide how aramco spends money there's other geopolitical risks which take a huge chunk fu

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their email addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over a year ago by saudi state agents according to multiple intelligence agencies. iran has resumed in rich in you raney i'm at an underground facility the process of injecting uranium gas into centrifuges that it's for the plant was observed by inspectors from the international atomic energy agency to iran has been scaling back on its commitments to the 2015 nuclear deal after the us pulled out and re imposed sanctions several

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their email addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over 'd a year ago by saudi state agents according to multiple intelligence agencies. a hospital operated by doctors without borders in yemen has been forced to shut after a missile and drone attack a nearby warehouse in the red sea the city of macho was used by government allied force it was also hit killing 8 people yemen's military is accusing who the rebels of carrying out strike. french police are now all started this mantl

led coalition battling who the rebels saudi crown prince mohammed bin solomon says it's a step towards broader solution to the war in yemen iranian president hassan rouhani says his country will begin injecting uranium gas into centrifuges at an underground enrichment facility from wednesday it's the force measure taken by iran's since july in response to u.s. sanctions reinstated by president trump washington withdrew from the landmark accord last year iraq's human rights commission says 2 people have been killed and dozens injured after security forces opened fire on anti-government protesters in bastra they had been staging a sit in at the port when live ammunition was used to disperse the crowds going to have more on those and all the other stories that we've been covering here on al-jazeera in about half an hour from now stay with us though the street is coming up next thanks for watching. i mean. we're in the stream today of mass protests and unrest in chile what are the roots of economic inequality in one of latin america's wealthiest nations well look at the protests over wealt

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their e-mail addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over 'd a year ago by saudi state agents according to multiple intelligence agencies several people have been killed after an attack on a porch in west in yemen and. the iran backed who the rebels have been blamed for launching missiles in drones of the red sea port of their fighting a saudi iraqi led coalition that's backing yemen's internationally recognized government it is the 1st major attack in the region since saudi arab

s you know mohammed bin solomon from saudi arabia essentially he was saying well we all make mistakes about him out chopping up a journalist. of course transforming the taxi business around the world and becoming a monopoly in the taxi business and one of the founders there for half a 1000000000 who was caught doing a lot of nasty things and his successor praising the decapitating m.b.'s guy over the the saudis yeah yeah he said because we all make mistakes like having cars have i don't repeat all he equated it with that here's the bottom 99 percent this is our life health websites share personal medical data with advertisers so again you're being plundered picked apart it's like private equity they're plundering your soul your your pension your wealth your dignity this is a case for universal basic income because data is the new oil that supplies the lubricant for the new economy and to have my data stolen from me all the time without compensating me for that data is saft well it's beyond even that i don't i wouldn't sell mine for a $1000000.00 i had i you know and they would only wa

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their e-mail addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over a year ago by saudi state agents according to multiple intelligence agencies. least 4 protesters have been killed in iraq capital by gunfire from security forces live ammunition was used as they tried to cross the bridge in an attempt to block it earlier the european parliament the european union rather condemned the excessive use of force being used on protesters it said the reported attacks by armed groups on demonstrato

owned oil giant aramco of between $6.01 trillion dollars now that's short of crown prince mohammed bin solomon's target of 2 trillion of the kingdom says it's looking to raise more than $25000000000.00 by selling a 1.5 percent stake in its oil company it's taking bids from investors in the final price to be saved after that phase which ends on december 5th. is an international oil economist and visiting professor of energy economics at e s c p your business school and in london he joins us from there nice to have you on the program let me get a thought from you 1st of all about this valuation i know that some would put it as low as a trillion not as high as 2 trillion but around 1.7 is that still too high. i think even the evaluation of $1.00 to $1.00 trillion dollars is is quite big or exaggerated my own calculations is that the evaluation could it be more than $1.00 to $1.00 trillion dollars the original valuation of put into someone but been selling man and the banks are that it is a bit out of based on saudi clear him of 267000000000 barrels of oil my research sure is that the proven reserve

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their e-mail addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over a year ago by saudi state agents according to multiple intelligence agencies joining us here on the news i'm up owen jones he's an assistant professor had been coming for university he specializes in social media. and technology across the middle east mark owen jones welcome back to the news are all we in effect here talking about a saudi mole in twitter yes we're talking about a saudi mole operating within an american com

in 2015 right around the time that crown prince mohammed bin solomon was rapidly rising to his powerful status that he enjoys today and met with a member of the royal family and shortly after that the spying commenced the spies gather all sorts of information about people making critical comments about the saudi government including their e-mail addresses their ip addresses their dates of birth and so forth among the thousands of accounts that were breached was one belonging to a prominent saudi dissident omar abdel aziz he was close to the washington post journalist jamal khashoggi who of course as we know was murdered in the saudi consulate in istanbul a little over a year ago by saudi state agents according to multiple intelligence agencies come paintings on the way in the u.k. for next month's general election december the 12th but several prominent female m.p.'s have announced they will not be standing because of an increase in threats of violence and intimidation a new parliamentary report has found abuse of politicians is not quotes commonplace nepa has more from london. it was a

on its state on the oil giant aramco that's well below the ambitious target of crown prince mohammed bin solomon $3000000000.00 shares will be priced around $8.00 each our economics editor abu ali looks at how investors are likely to respond. back in 2016 crown prince mohammed bin some man wanted to float around co with a valuation of 2 trillion dollars immediately investment bankers hired to promote the i.p.o. could not make the math add up or argued with oil prices at $75.00 a barrel the company could be worth $2.00 trillion dollars but opec is warning all demand will slide over the next 4 years and that current prices it's only worth one point $75.00 trillion but there are other ways of following companies one method is dividend and our run co has guaranteed $5000000000.00 over the next 5 years which valued the company at $1.00 trillion dollars even after the sale of the saudi government willow 98 percent of aramco which means the government can decide how aramco spends money there is other geopolitical risks which take a huge chunk. like the attacks on saudi oil facilities in september and t

for international investors so like you said in 2016 the crown prince of prince prince mohammed bin solomon wanted a 2 trillion dollars for the for the company but valuations from from measuring it by by oil prices currently would value to about $1.00 trillion dollars but international vest is because of the geopolitical risks involved in this particular. particular company plus the government control of this company after the sale because there's still a 98 percent say that the valuation is closer to between $1.00 and at a very stretch $1.00 trillion dollars and out of how important is international investment in iran for saudi and for armand's economic plans for the future to diversify the economy away from oil and that's key because initially they wanted to raise 100000000000 dollars and they wanted to use that money to move away from oil by investing in other parts of the other parts of the economy now we're looking at some in the region or $25000000000.00 which is going to be raised at 1.5 percent which is going to be sold to the general to the general public and international best is

i'm not surprised, but i wonder if it is enough to generate the kind of buzz been solomon once -- mohammed binobviously this a domestic focused investor base. it will be interesting is to see once it does price in saudi arabia whether that will expand globally. i think that will take more cruising through their financials. alix: and a little bit more politics horse trading. what are you watching? romaine: tech data, this is the big distributor of a lot of tech products. some of it goes directly to companies like apple and microsoft. buying them out for $145 a share and originally a 140 -- $130 offer, then cnbc is reporting one of the bids was from berkshire hathaway and warren iffett, which made it appear they connect the dots that is why apollo ended up at $145. this deal looks like you will go through a value company around $5.6 billion. a pretty big deal in the textbased, not a household name but a big deal. apparently berkshire thought it could do something with this. berkshire has been outbid quite a bit over the last couple of years. alix: despite their pile of cash. another company we a