riad: that is really hard to say.no doubt there was corruption in saudi arabia, that there was a certain way of doing business, and that the relationship with the prince was key to your ability to do business in saudi arabia. if one can take the perspective that if you want to change that you have to make a dramatic gesture -- you have to really show that they do not want to do business in that way anymore. however, again, as was said earlier, the issue of transparency -- the way it was done, and is it being done fairly, or is it more of a power grab, as some people are saying, by the prince. nejra: think so much to bloomberg's middle east executive editor riad hamade. we are 30 minutes away from the close of equity trading europe. stoxx 600 unchanged. pretty thin trading. this is bloomberg. ♪ this is bloomberg. ♪ >> 11:00 in new york, 4:00 in london, and midnight in hong kong. there are 30 minutes left in the in europe.ing day i'm nejra cehic, in for mark barton. >> and i'm shery ahn, in for vonnie quinn. close onhe

they said they wanted it riad: -- riad: they said they wanted it over by the end of this year. about weeks instead of months. and they report about 20 have been released. it does seem to indicate that there is an end game. this at a conference wants to encourage investments, encourage the private sector. they need a certain level of certainty before they come thiso encourage to invest in the country. this lack of clarity and transparency. in terms of those investments. the crown prince has been very energetic this far. he has a war going on in yemen. withid the incident lebanon and qatar -- is there a bandwidth problem? he's taking up a lot of issues. if you look at this economic plan to diversify the economy away from dependence on a lot of people are saying it is coming a little bit too late. and a brutal shift in the way saudi arabia functions. it is a big job and it's all right. much more foreign policy. there is a question over if he's bitten off too much. david: thank you so much, joining us from dubai. coming up on bloomberg markets, the yield curve. this is bloomberg. ♪

but now the former leader has called for dialogue with riad on the hutu rebels see him as a traitor. i am calling on the armed forces and the police to not take orders from the who tease in any circumstances or any place. to the armed forces the police and all the state institutions take orders from the military that is represented by the historical patriotic leaders. as the deadly battles between former allies intensifies life in the capital sana'a is suspended a shops in schools are forced to shut out the violence. now the tensions on the korean peninsula are in focus today as the united states and south korea kick off five days of joint to air exercises said to be the largest ever the drills involve more than two hundred thirty planes including two dozen stealth fighters there predictably drawn an angry response from north korea on state television kyung yang called it an all out provocation that could lead to nuclear war this all comes less than a week after north korea test fired an intercontinental ballistic missile thought to be capable of hitting the u.s. mainland so. let's s

saudi arabia says it has intercepted a ballistic rocket fired by humans who think the group to work riad this video posted on social media shows that by witnesses it shows a cloud of smoke but there were no reports of damage the rebels said they were targeting the royal palace and the saudi capital. thailand's ruling junta us says it will use a special order to allow political parties to prepare for elections prime minister . made the announcement on tuesday a ban on political activity has been in place in the country says a twenty fourteen coup ousted the civilian government. of south africa's oscar pistorius will appeal after judges increased his jail term for murdering his girlfriend last month prosecutors successfully argued the olympian's a six year sentence for fatally shooting reeva stinko was too lenient and had it increased to thirteen and a half years while now the country's constitutional court will make a final ruling. a detained chinese artist who filmed housing evictions in beijing has been released in time for his daughter's birthday police detained while young at the week

riad: it is all of the above. are trying to send a message that there is a new boss in town, a new way of doing business and the old way of doing business of patronage, royal princes is gone. they want to send a clear signal. if they reach a settlement with the prince, that would be the clearest signal of them all. it will also signal the end of this because he is really the bellwether of this drive. david: i'm fascinated by the possibility they want to own part of his fund rather than get a check. do they want the money or is it important for the crown prince to gain control or a substantial influence over the fund that the prince controls? riad: we don't know. we don't know their motives exactly. we don't have -- we know from people involved in negotiations they want a majority of the funds. the prince does knowledge to admit to corruption. he wants to come out of this with his reputation intact. david: thank you so much. we were told the banks were going to be big beneficiaries from the tax overhaul. so why is

thank you, riad and alix.w for the bloomberg business flash, biggest stories in the news right now. u.s. natural gas sales to china are booming. the country smashed up a record volume of the fuel to meet surging demand for heating and industrial use. sanford bernstein says this could triple to about 600 billion cubic meters by 204, and it could overtake the u.s. as the world's largest consumer by 2050. uber is making a deal. "the wall street journal" says the company has agreed to sell its u.s. auto leasing business, exchange leasing to start a car marketplace. financial terms were not disclosed. more than forecast in october, data showed prices rose 6.4%, the most since mid 2014 as lean inventories continue to prop up values amid steady demand, and that's your business flash update. laura: still ahead -- home prices are booming. what's the outlook for the rest of the u.s. economy? we'll explore next. ♪ shery: let's take the pulse of the u.s. economy and what to expect for the year ahead. joining us is bloombe

mark: riad, thanks for joining us from dubai.nie: let's get back to a developing story -- the senate banking committee has refused to recognize confirmation of scott garrett for the role of chairman of the u.s. export-import bank, an institution the former congressman called "corporate welfare." he tried to shut down the ex-im bank before president trump nominated him to be it's chairman. iste house saying it disappointed in the decision. kevin cirilli is on capitol hill with a guest. kevin: we are here with senator heidi heitkamp, a democrat. scott garrett rejected 13-10, not being approved for chairman of the export-import bank. you were against him? why, and what is next? senator heitkamp: first off, we need a functioning ex-im bank. we need a quorum so everybody understands the urgency of getting these nominees moved through the banking committee. what we don't need is somebody who is going to be a saboteur at the bank area i am interested in how we can reform the bank, how we can make the bank more responsive, how we can get

kingdom says that it has intercepted a ballistic rocket which was fired by yemen's rebel group towards riad the rebels say they were targeting the royal palace in the saudi capital this is the second time in two months that a rebel rocket has managed to reach as far as riyadh so what's going on here to talk about the situation in yemen and saudi arabia i'm joined now by transfield it's good to have you back on the show you are a middle east expert at the for university in berlin with us talk about this latest missile fire by the who the rebels i mean how much has it escalated the situation in the region this one missile being fired yeah i don't think this one missile is causing the escalation it's it's much more the timing and the message that it's sending to saudi arabia and to the u.s. and what the u.s. and saudi arabia are making out of it what's the what is the message that it's sending to them of course two days ago they you and the american ambassador to the u.n. presented evidence that the missiles that are being fired by the who think to saudi arabia are it raining and running of co

but now the former leader has called for dialogue with riad and the hutu rebels see him as a traitor. i am calling on the armed forces and the police to not take orders from the hooty is in any circumstances or any place. to the armed forces the police and all the state institutions take orders from the military that is represented by the historical patriotic leaders. as the deadly battles between former allies intensifies life in the capital sana'a is suspended by shops and schools are forced to shut out the violence. now turkey has taken in more refugees from war torn syria than any other country more than three million syrians are officially registered in turkey and the un children's agency unicef says about one point two million of them are children but living as refugees in turkey many syrian children after grow up fast. the red wing noise of sewing machines has become the soundtrack of his childhood she works twelve hours a day monday to friday in this clothing workshop in istanbul the women here a sewing underwear and iris has to make sure they never run out of fabric. she earn

he sat down in riad and spoke about his plans for the bank in the region. >> well, jpmorgan has beene for 80 years so we've both theing in government, the kingdom itself and a lot of the companies here for the whole time i've been here and way that. so they're having a big forum now as you've seen by the government enhanced business to enhance its relationship with the states, the president is here, the president and the king here together today so by joined to be part of this here. >> how much bigger with your the middlein east and saudi arabia get? >> my first trip here, we was oneperson, it receptionist, a female, now, we have 80. womenk almost 30 are by the way, including several m.d.'s, including that woman who was the receptionist the first time and we're part of the banking system here, we're part of the brokerage system here. we bank with a lot of big companies and we bank with governments so we'll be over time asr saudi arabia and the middle east grow. >> you do a lot of bond sales for them, as well. a difference if the 2030 vision works out? about $27one billion of bonds fo

but now the former leader has called for dialogue with riad and the hutu rebels see him as a traitor. wow. i am calling on the armed forces and the police to not take orders from the who tease in any circumstances or any place to the armed forces the police and all the state institutions take orders from the military that is represented by the historical patriotic leaders. as the deadly battles between former allies intensifies life in the capital sana'a is suspended i shall send schools are forced to shut the violence. jordan has warned u.s. president donald trump that recognizing jerusalem as the capital of israel could have dangerous consequences trump has repeatedly pledged to make the controversial declaration and move the u.s. embassy from tel aviv to jerusalem previous u.s. presidents have declined to do so many fears the move would enraged palestinians who claim east jerusalem as their capital of donald trump's son in law and adviser jared questioner says the president is still deciding on whether to formally recognized him as israel's capital in the coming days. the president

general assembly hall where the palestinian foreign minister riad al maliki is speaking right now to the delegates there leslie thin into what is the thing. to make heard the voices of the international community which has been invited by the reactions of peoples and the positions of countries throughout the world. as. the obvious majority was experienced in the security council where a vote was conducted on a draft resolution. should be ok. firms. legal and political and historical status of the first and the fact that any attempt to change the status would be enough and well you know that to think the arab group and the member states and the organization of islamic cooperation as a nonaligned movement. for calling for this emergency session. after the use of the veto. obstructed the security council and made it an able to perform his duties and maintaining international peace and security despite the fact that the four. member states of the council that supported the draft resolution tabled by egypt and which we thank you for. the general assembly. now has within squarely. the righ

the american embassy to jerusalem is unacceptable and very dangerous palestinian foreign minister riad maliki that is says that his people need the support of the international community that he got to go to spain we expect friendly countries who recognize palestine to confirm and reaffirm their recognition of palestine as a state and east in jerusalem as its capital for muslims and christians alike this illegal decision means those countries need to support us on this we hope they'll be a ministerial field of arabs to talk to the countries of the world in order to support the palestinians and further the palestinian people. they kateri foreign minister mohammed and up to roxana funny also attended the meeting of arab leaders in cairo the two spoke against the u.s. decision to recognize true islam as israel's capital. this causes a problem for muslims and christians throughout the world it is a flagrant violation of international law including the un security council resolutions this supports all the measures taken by israel to change just status of jerusalem. the leader of egypt's cop