is the centerpiece of crown prince mohammed and sell man's vision 2030 and the stock offering is meant to bring in enough revenue to diversify the kingdom's economy plans to list on the world's leading exchanges had to be scrapped because of transparency requirement but there's still talk of an international offering after the internal listing in saudi arabia the ambitious crown prince sent out a 2 trillion dollars price tag to put that into context the world's most valuable company such as microsoft and apple stand it hard for what the prince wanted to have been so man appears to have swallowed a lure valuation instead of further delaying the i.p.o. analysts believe probable and proven oil reserves can vary tremendously and for a listing outside of the kingdom would have to prove its reserves. for foreign investors the biggest concern is about the safety of their investment and attacked by yemen's who the rebels in september produced the company's oil production by half investors a cautious of saudi arabia's neighborhood with ice in pockets in the iraqi desert in the north and iran al

jack dorsey met with the crown prince mohammed bin saddam on but according to multiple reports the saudi infiltration of twitter which dorsey knew about did not even come up. in june of 2016 twitter c.e.o. jack dorsey met with the saudi crown prince mohammed bin given what we know now and given that reportedly there was no discussion at that meeting of the breach what do we make of that meeting and that photo i think it's clear example of how financial interests. promise investment in twitter. took precedence over human rights in their desperate desire to attract funds to their companies that are actually creating a big problem and they will realize later that the policy that prioritize financial gain at the expense of human rights is futile. there is no way that a competent would not be aware of such an important thing as a security breach when his company it's huge especially when that breach could have violated u.s. law it would be the 1st thing on any meeting agenda so there's no way you could have that discussion without raising this issue it's paramount. unless dorsey felt the issu

could value was even higher the crown prince mohammed bin wants to reduce the kingdom's reliance on oil only a fraction of the stock will be sold at 1st on the local exchange in riyadh. and get more from the traffic couldn't from d.w. business welcome cliff assert tell us more that about the world's biggest oil company well it really is the biggest it's a big he must it's it produces 10 percent of the world's oil it's owned by the saudi royal family it's fairly secretive in the way it operates and so we've never really had much of an insight into into how it works but it's really a giant by somebody way sions it's worth nearly as much as. microsoft put together . accounts for 70 percent of all the revenue for saudi arabia as well so it's hugely important to the economy too so what does this 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

backed fighters saudi crown prince mohammed bin. step towards a broader solution to the war in yemen diplomatic editor james bays reports now from the united nations. a deal is signed that it's hoped may bring peace to one part of the violent war in yemen presiding at a ceremony saudi crown prince mohammed bin so man those signing the government of yemen president had to be a key saudi ally was among those present and the southern transitional council which was strongly backed by the united arab emirates even though all the while they've remained part of the saudi led coalition in yemen but the real war in yemen is obviously between the hard government the coalition and the who are these so this is just a sideshow and this is kind of a small breakthrough in the sideshow that only occurred very recently at the u.n. in new york the deal was welcomed by the u.k. ambassador the current president of the u.n. security council and this is a good step forward and we meant that brings the satin transitional council into the government and we

backed fighters saudi crown prince mohammed bin salon's says it's a step towards a broader solution to the war in yemen or a bird and rally has more after months of negotiations finally a deal it's aimed at sharing power between president months of government and the separatists and transitional council. the saudi crown prince mohammed bin some mom says this is step towards a political solution to end the war in yemen under the plan yemen's government will return to aden to put state institutions back in place and members of the sudden transitional council get cabinet positions all forces would join together under the coalition to restore stability and security. the u.n. special envoy martin group has welcomed the deal stating the signing of this agreement is an important step for our collective efforts to advance a peaceful settlement to the conflict in yemen listening to southern stakeholders is important to the political efforts to achieve peace in the country 6. the u.a.e. backed separatist movement just wanted self rule in south yemen and in august it sees the presidential palace

the saudi crown prince mohammed bin so mom says it's a step towards a political solution to end the war in yemen under the plan yemen's government will return to aden to put state institutions back in place and members of the sudden transitional council get cabinet positions all forces would join together under the coalition to restore stability and security. the un special envoy martin group has welcomed the deal stating the signing of this agreement is an important step for our collective efforts to advance a peaceful settlement to the conflict in yemen listening to southern stakeholders is important to the political efforts to achieve peace in the country 6. the u.a.e. backed separatist movement just wanted south rule in south yemen and in august it sees the presidential palace and government military camps an age in the since he was the interim capital of the saudi backed internationally recognized yemeni government i'm listening to their aim was to win back the independence the south north from the 2 you haven't seen knighted in 1990 and i think i'm blue print in a cornerstone for

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 conference and proving themselves is to be the. you know the personality who's ready. to be the king next. to have because he was not very lucky with the previous initiatives that he took in order to. stabilize the impact of who he is in yemen or of managing the anybodies crisis or even managing with you know i'm in conflict with a conflict with iran so. he needs to succeed somewhere this is definitely something that he needs it badly in order to again going back to a trust issue to gain the trust of the people and then vested so and then his 23rd division be successful because it's not just the money that's needed for the 25th division the diversification of the economy but also the trust in his leadership that in my view. a car bombing has increased concerns over insecurity along syria'

that phase which ends on december 5th out of there is economics that is abu dhabi says crown prince mohammed bin will be disappointed with this valuation. 1st of all remember in 2016 he wanted 2 trillion dollars for the computer wants to raise $100000000000.00 for other projects that they want to invest in now we have come to a point where basically international investors have baulked at the idea that they would be willing to invest in this company at anywhere above $1.00 trillion dollars but he is pretty lucky that the saudi public will be buying into this no point 5 percent of the shares will be sold to the south is saudi public and looks like that they'll take a huge allotment of those shares plus he's encouraged many of the country's billionaires who were holed up in the in the in the in the in the in the hotel in in riyadh to. to basically invest in the in this particular company as well so on that level it will be a success because on the day of the shares will be sold to the saudi pension funds investment funds will basically go into the market and pick up any of the stock that's lef

that stage and oil giant around code of between $6.01 trillion dollars that's short of crown prince mohammed bin sounds target of 2 trillion 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 right now on the final price will be set after that phase which sent which ends on december 5th there is economics editor joins me now crown prince mohammed bin someone must be disappointed by this valuation i imagine are think very much so 1st of all remember in 2016 he wanted 2 trillion dollars for the computer wants to raise $100000000000.00 for other projects that they want to invest in now what we have come to a point where basically international investors. the idea that they would be willing to invest in this company at anywhere above $1.00 trillion dollars but he is pretty lucky that the saudi public will be buying into this point 5 percent of the shares will be sold to the south is saudi public and looks like that they'll take a huge allotment of those shares plus he's encouraged many of the country'

the report says there is a darker reality behind prince mohammed's widely touted initiatives for saudiomen and youth, including mass arrests of women actitivists, some of whom have allegedly been sexually assaulted and tortureded with elecectric shocks. severalal top trump administratn officials recently joined financial industry executives at a saudi investment forum known as davos the desert. stephen nguyen, senior advisor jarrard kushner, led the u.s. delegation of other attendees included stephen schwarzman, co blackstone group, tina powell mccormick of goldman sachs, and larry fink, ceo a blackrock. we're joined now by adam coogle, middle east researcher at human rights, author of a new report titled "'the high cost of change': repression under saudi crown prince tarnishes reforms." welcome to democracy now! talk about this whole issue of the justice department going after the former twitter employees for spying on dissidents in saudi arabia. what do you know? >> the justice department yesterday revealed indictments , two of themudis twitter employees, for allegedly accessing part

exchange the sale of shares in the world's most profitable firm is designed to finance crown prince mohammed bin some economic reform agenda confirmation of the listing comes about 7 weeks after attacks on or around coast oil facilities the us judge has blocked a controversial move by president trying to restrict visas to migrants with health insurance or with the ability to pay for medical bills the legislation was meant to come into effect on sunday but an oregon judge ordered a 28 day suspension on the grounds that it could do irreparable harm turkey's defense ministry has accused kurdish armed forces of a car bomb that attacked and killed 13 civilians including children in northern syria about 30 others were injured in the attack near a market in tel at the end. meanwhile turkey is threatening to send all ice or fighters that it's captured back to their home countries interior ministers silliman says europe must do more to repatriate its nationals. we are not a hotel for anybody i thought members it's not possible to accept this we have agreements with all these european countries and in

to this the saudi aramco company at the saudi stock exchange market the centerpiece of crown prince mohammed bin said 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's 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 hong kong kong but there have been some issues especially regarding the new york stock exchange listing and which was the possible litigation or opaque . law that could have been. adopted by the u.s. congress therefore there were some concerns by the saudis and this was expected the saudis would go for the domestic. market listing the ambitious crown prince sent out a 2 trillion dollar price tag to put that into context the world's most valuable company such as microsoft and apple stand it hard for what the prince wanted the crown prince appears to have swallowed the lure valuation instead of further delays in th

crown prince mohammed bin saddam on cash to diversify. he wants tourism manufacturing and renewable energy to drive growth in the post oil world he has major in bishan is to transform saudi arabia into a top 5 global tourist destination. clifford couldn't from d.w. business can tell us more a cliff this i.p.o. has been in the works postponed restarted for 3 years now why so many problems they face a lot of headwinds they've had overall economic worries we've had to trade war between the u.s. and china and also the u.s. has been ramping up its own oil production and then we had the drone attack in september which also really had made people very jittery and one of the regime's companies actually downgraded us so. to this the fact that saudis reputation has taken a hit with things like the assassination of jamal khashoggi at the embassy in istanbul that's geopolitically this is unhelpful and yes they faced all these sort of things but i think looking at work now it's because well it's an incredibly profitable company it's you know it made $

months of this year and if the valuation works i mean if they can push it to the valuation that prince mohammed bin sound not wants it will be worth as much as apple and microsoft put together so it's in some ways it's a good bet but there's a lot of headwinds as well quite apart from the business side of things what does this all mean for the environment and climate change are there any effects we can predict well i don't think it's good for the us basically they've always pushed against international efforts to cut back on on emissions and it's not at a time when everyone is trying to get the oil companies to shrink this they're going for an i.p.o. to expand so in those terms it's not it's not a great signal and we understood from from your report the i.p.o. is meant to diversify what know many people called an oil addicted economies and it's all they do that work well look if you look at the region other other people in the region have done it you know you've seen in the emirates you know how they've they've been buying football teams they've been they've encouraged tourism i think saudi has

the engine driving saudi arabia's economy which relies on oil revenues the centerpiece of crown prince mohammed bin 10 month vision 2030. to bring in enough revenue to diversify the economy but it's never listed in any of the world's leading exchanges because of transparency fears the 1st idea was either to list it either in new york london or in hong kong kong but there have been some issues especially regarding the new york stock exchange listing on which was the possible litigation or opaque . law that could have been. adopted by the u.s. congress therefore there were some concerns by the saudis and this was expected the saudis would go for the domestic market listing the ambitious crown prince set out a 2 trillion dollar price tag to put that into context the world's most valuable company such as microsoft and apple standard half of what the prince wanted these firms have a market capitalization of around a trillion dollars for a listing outside of the kingdom would have had to prove its reserves are what it says they are. analysts believe the difference between probable and proven oil rese

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 issues especially regarding the new york stock exchange which was the possible litigation or opaque. law that could have been. adopted by the u.s. congress therefore there were some concerns by the saudis and this was expected the saudis would go for the domestic. market listing the ambitious crown prince sent out a 2 trillion dollar price tag to put that into context the world's most valuable company such as microsoft and apple stand it hard for what the prince wanted the crown prince appears to have swallowed the lure valuation instead of for the delays in the i.p.o.

saudi arabia must change to survive well camp last forever some analysts say around 70 more years prince mohammed bin 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. german car bosses a meeting with lawmakers in today to discuss green and future technologies summit comes as top. begins production of what it calls a breakthrough vehicle. here comes the car that has been gearing up for for the last 3 years the id 3 it is b. w.'s 1st mass production purely electric car. herbert deeds the c.e.o. of the company is pitching the id 3 as a do or die moment for germany's critical automotive sector tend to feel at the moment you hear a lot about the decline of the german automotive industry but whether it comes to this is up to us it's an issue of whether we take advantage of the opportunities that are brought by change. once beat it german chancellor angela merkel was on hand to tour the factory or government will now have to stump up to subsidize ch

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 will only 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 the killing of journalists jamal khashoggi so what is a complete worth investors say a fair prices between one trillion dollars and reluctantly $1.00 trillion. still ahead on al-jazeera the study questioning whether surgery is really

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

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

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

saudi arabia must change to survive well comp last forever some analysts say around 70 more years prince mohammed bin 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 causeway 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 our wall street correspondent yes quarter how big of a consideration these risks are for investors. well overall the numbers are quite stunning just if you look at the profits in the 1st 9 months of this year it was more than $46000000000.00 to talk 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 profits what saudi aramco did in the 1st 9 months of the year but clearly there a

saudi arabia must change to survive well comp last forever some analysts say around 70 more years prince mohammed bin 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. all right let's cross over to often national correspondent chelsea delaney in france the chelsea why an i.p.o. in riyadh and not in new york or london. listing is saudi aramco on on a local exchange is a really important symbol for the for the government there because they've they've really made this push to get more investors investing locally and to saudi companies and they've made a lot of a lot of progress and transparency and regulatory changes so i think it's important for them as a symbol to a list this locally but they are planning at some point in the next few years to do a 2nd internationalist saying syrian to do the small local listing where they all the list about 2 to 5 percent of the shares and then in a couple of years there they've said they plan to do another li

forhis is seen as key prince mohammed and saudi arabia's vision highlighting that program?absolutely. basicallyid out is finding a way to move saudi arabia away from its independence and the idea is to in renewable technology and also services, things that you cannot touch and in order to make those hundreds of billions of dollars worth investment, they need money from the ipo. they need the capital to help funnel inmoney -- money. so the ipo is a key piece in building a saudi arabia that doesn't depend on the production of oil and has a future for beyond any potential decline for oil. >> coming up, we will discuss emmanuel macron's visit with china with the eu chamber of commerce. all that is coming up. this is bloomberg. ♪ >> let's talk about the trade relationship and overall economic relationship with french president emmanuel macron. he is likely to push an investment deal with china when he visits this week. france expecting about 40 contracts to be signed. she is an expert trade advisor to the french government. what are the more specific here? can you put it into th

blame for 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 he was not very lucky with the previous initiatives that he took in order to. stabilize the impact of the his in yemen all of the managing very benny's crisis or even managing with that you know i'm in conflict with a conflict with iran so. he needs to succeed somewhere this is definitely something that he needs it badly in order to get going back to a trust issue to gain the trust of the people and the investors supporters of lebanon's president mission on are rallying outside the palace in bob done north of beirut protests began last month and they forced the prime minister assad heidi to hand in his resignation to the president many demonstrators now say they want the entire political system replaced 13 people have been killed and 30 others injured in a car bombing in the north syrian town it's one of the areas controlled by turkish backed opposition fighters and has seen heavy clashes since turkey began its operation to create a safe zon

saudi arabia must change to survive well comp last forever some analysts say around 70 more years prince mohammed bin sound man 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. here break this down for us is yes court that he's our correspondent on wall street yes i know this whole i feel business around around preceded in fits and starts why is it going ahead now. well i mean 1st of all there had been some internal pressure for quite some years the former head of saudi aramco was skeptical if it's a good idea to sell pieces of the crawlin jewels but then he got replaced and now the top management at the helm of saudi aramco is more friendly quite obviously to an i.p.o. and then we also shouldn't forget about 90 percent of saudi arabia's budgets depends on oil and gas production but to actually fulfill the needs of the population of the country you need an oil price more for 70 to 80 percent per barrel and not of around 50 percent what we hav

is the centerpiece of crown prince mohammed until month vision 2030 and the stock offering is meant to bring in enough revenue to diversify the kingdom's economy. plans to list of the world's leading exchanges had to be scrapped because of transparency requirement but there's still talk of an international offering after the internal listing in saudi arabia the ambitious crown prince sent out a 2 trillion dollar price tag to put that into context the world's most valuable company such as microsoft and apple stand it hard for what the prince wanted to have been so man appears to have swallowed a lure valuation instead of for the delaying the i.p.o. analysts believe probable and proven oil reserves can vary tremendously and for a listing up side of the kingdom would have to prove its reserves for foreign investors the biggest concern is about the safety of their investment in attack by yemen's who the rebels in september produced the company's oil production by half investors a cautious of saudi arabia's neighborhood with ice in pockets in the iraqi desert in the north and iran allied hu

stock exchange the listing of the world's most profitable company is designed to finance crown prince mohammed bin some economic reform agenda by raising billions to diversify the kingdom confirmation of the share sale comes about 7 weeks after crippling attacks on its oil facilities also turkey's defense ministry has accused kurdish armed forces of a car bomb attack that killed at least 13 civilians including children in northern syria about 30 others were injured in the attack near a market in yet and police have fired tear gas and used water cannon on protesters in chile's capital santiago people are angry about low income poor public health care and the growing gap between rich and poor. trade negotiations and fears of an escalating u.s. china trade war are likely to dominate day 2 of the sea and summit in bangkok members of the southeast asian bloc are hoping to finalize a major free trade agreement led by china that includes 16 countries thomas parks's from the asia foundation he says the impact of the trade deal so far is mixed. obviously there's a lot of anxiety about the trade situati

welcome to 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 de