the amount of weapon sales to saudi arabia is mindbogglingly. weapons to saudi arabia. just let that sink in a little bit. i know it's sometimes hard when you talk about the big numbers but that is a massive amount of weapons. saudi arabia right now is propping up the u.s. military industrial complex and what are they doing with those weapons, repressing their own people, going into neighboring countries like during the arab spring. they did not want to see democratic movements prevail in the neighborhood, went intothey bobraihn where there was a beautiful nonviolent uprising among the population using u.s. tanks, came in and crushed the uprising. i mention that the weapons can now be found with al-qaeda groups and syria and libya and iraq but also the -- the wins are now being used to devastateb on already poor country in the middle east and that is yemen. and this is something that our media doesn't cover enough. this isn't something that the media people barely understand that now it's going on 20 months since the saudis got involved in an internal conflict in yemen

we also understand that there are large segments of the population in saudi arabia that are discriminated against, for example women. when you think of saudi women, you probably think that women can't drive which is true, in fact it's the only country in the world where women are not allowed to drive. many people when they think of saudi arabia are thinking of the force covering of women in public but what's most important to understand about women in saudi arabia is the guardianship system that says from the time a young girl was born till the time the woman dies, they have to have a male who is the legal guardian who decides whether the women can make the key decisions in her life like who to marry, when to marry, what to study, what kind of job to get, if she can get a passport or travel and if that woman has an enlightened guardian, she can have quite a good life in saudi arabia but if that woman has a backward, repressive guardian, or life can be held and that is why there are thousands of women who recently threw took a very courageous stand of signing the petition same and wanted t

it looked as though saudi arabia could be guaranteed to be the dominant oil producer in the world foreverrld would always be reliant on saudi arabian oil. that is not true today, and it changes everything. the vision of king abdullah and the government at the time was to create a new era of development with the private sector leading the development and infrastructure. i think that the king abdullah economic city was launched for this exact moment, when the government can do everything and the government needs to rely on the private sector. i think it's working. you can't divorce yourself from the economic picture of the country as a whole. yes, you are private sector. but if the saudi economy is going to slow down, fundamentally, because the oil price has plummeted, it doesn't look like it is going to rise anytime soon, then you have a problem. i don't mind being in the saudi economy today. we are going to grow at 4%.m we are going to grow at 496. it is also about the regional picture. you sit in the middle of a region that is full of turbulence, turmoil, war and uncertainty about the fu

that is why i am so glad we started off looking at some of the pictures of saudi arabia to put into the context my muslim friends have told me to do, please don't talk about the saudis ideology when it comes to islamism version of islam but talk about it as a perversion of islam because it has nothing to do with the islam that is practiced by the vast majority of people are around the world which is a loving and compassionate form of islam. for the reason i have been encouraged by people in the muslim community to speak out and write this book and doing so many people who are a part of the peace movement know so little about saudi arabia. so the book that i wrote this the basic 101 what you need to know about saudi arabia. it is important to step back and look at the foundation of this regime, which goes back to the 1700's when there was a figure come i consider coulter like muhammed who had his fundamentalist intolerance version of the caroline and said if you don't interpret like i did in you are the infidels of the you can go kill infidels so that turned out to be very convenient for

in terms of saudi arabia, pressure coming through from big names like ncb, saudi basic industries, there was a selloff of a lower than expected dividend announcement. qatar, surgedat as much as 7%. the bank led that higher after they announced they began merger talks with international banks. let's get more on that story. joins us now. how optimistic are you about this deal? >> i think the deal will happen somehow because of government pressure to consolidate the banking sector and increase the size of the remaining banks. a merger,xpecting probably a two way makes sense. having themistic on merger of two large banks. that equation, could be a problem. >> did i hear something that needs clarification? the reality, if you look at the theserecord in qatar, deals have not been successful. and the theme of consolidation and pressure to merge has been there for quite a while. we have not seen the traction, regulatory resistance, and many other variables. why will it work this time? simply, the government have , semi-control over these banks. that would be the main reason for this to go throug

saudi arabia, we are seeing volumes at a two-month low. we did see saudi on the back of saturday, at from ronco, 3.4%. that was the most gained. 1.8% in yesterday's trade. 9.3%. how much further does this market have to go? remarkable. downside pressure on the market. byot of those gains driven other banks in egypt. let's look at the first word headlines from around the world. >> president-elect donald trump responded to the white house trade office with a comment to the china critic. advisedmics professor innovative strategies in trade talks, and the fed. billionaire investor led regulatory reform and the sec. will oil behemoth aramco explore an ipo in japan. we are looking at markets from hong kong t new york for what could be a biggest sale in history. they have downplayed tensions with the u.s., passing a law for victims of the september 11 attacks to sue the kingdom. job cuts at home. the bank plans to eliminate about 900 positions, possibly enable it to achieve its target a year earlier than expected. credit suisse says it has elimin

still supporting saudi arabia? how is the situation in yemen compared to what is happening in syria? >> on the first question, the british are actually in far deeper waters as far as the war crimes or concern because they are on arms trade treaty. in the treaty, it says if there is any risk that weapons could be used in violation of international humanitarian law -- that is pretty low bar, could be used -- then they should be suspended. anybody who is spent more than a couple of days on the ground in yemen can see it is not could be, it is highly likely. even human rights watch and other organizations have found evidence of british bombs remits being used on civilian targets in yemen. absolutely they should be suspending. there have been various arguments put forward by the british government, including that if we don't do it, some of the else will -- which does not help them out when you're trying to defend your self -- amy: beaming, if we don't do it, someone else will make the money? >> exactly. this will come t

the first hints of the plan began to surface in late january. >> saudi arabia is considering an ipo of's largest oil business, saudi aramco. they have ruled out selling reserves. >> they have two options. one option is selling off a stake in the downstream operation. that is code in the oil industry for refining. the other would be selling a stake in the parent company. both those options still on the table. >> saudi arabia has big plans to deal with the declining price of oil. create a $2 trillion mega fund. in an exclusive sitdown with the crown prince, we got the details on how saudi arabia wants to evolve its economy. >> he has this obsession about moving the saudi economy away from oil and basing it around something new. and this $2 trillion fund into which aramco will go is an amazing thing. it is enough to buy google, microsoft, the alphabet, lot of them. warren buffet. and they would still have change to spare. >> what is the latest on the ipo? >> the way that this seems to be going forward, there's been a lot of skepticism about whether the saudis are for real about this. they

let's stick to saudi arabia. with a budget aimed at reducing -- an ongoing story we have been covering. let's get economic output for the kingdom in the coming year in more detail with the director of economic research at the gulf research center. this is a topic driving sentiment in this part of the world, driving the market. john, has the saudi government done enough to really offer something credible that would be sustainable in the long term in terms of keeping the market momentum? >> i believe so. if we were to look at last year's discussions, i was saying that we need more confidence, we need to have progrowth initiatives, we need to maintain fiscal discipline. we need to reduce current expenditures and increase capital expenditures. in thise done it all budget and a very transparent way. as a result, the market has been very positive. analysts have been very positive. i think this is the beginning of a new saudi arabia, which is building on progress initiatives going forward, instead of having a recession,

there is a very special social contract within saudi arabia and the re st of contract within saudi arabiaolf whereby the state is able to use its largess to fund the public. that is changing and thatis the public. that is changing and that is they fundamental shift. the enormity of that cannot be underestimated —— gulf. enormity of that cannot be underestimated -- gulf. you answered my questions before i ask them. i was going to ask if there was a sense that the saudi arabian budget was even more important than the uk budget, because is it true that the saudi arabian government involvement in keeping people employed and keeping people in their lifestyle, just being able to help them exist, is more important than its maybe in the uk? i think that has been 100% true the uk? i think that has been 10096 true and it is nowjust, it is reducing in how true it is. the big roll of 2030, this massive reform plan, the enormity cannot be underestimated. the goal is to reduce the public sector funding through private sector growth. that has to be the big goal. they want to eliminate their reliance on

of the companies in saudi arabia can be known for international investors.roviding a bedroo benchmark companies that are big, supported and helped by the government can help drive a lot activity, a lot of support towards these companies, a lot of investment towards them. and in many ways, you can end up that is clustered around certain industries that sees saudi arabia competitive in, like petro chemicals. >> the emirates economy tracker is just out with a fresh reading 55.2 for november. that is up from 53.2 in october. to discuss is the head of the research for emirates mbd. i suppose we should start with the obvious question. recovery?ving this >> so in november, the data was particularly strong for travel wholesale andd retail trade. travel and tourism actually reached a series high in terms the pmi, a reading of over 57, which certainly signals a strong rate of growth in the tourism sector last month. >> so if travel and tourism -- well, travel and tourism are the best-performing sectors. dubai'sa vindication of economic transformation to some extent, o

the united states expressed immediate concern, warning that security cooperation with saudi arabia wask later, a saudi—led investigation team blamed an unnamed person in the yemeni military for the strike. it accused the air operations centre in yemen for directing the bombing without obtaining approval from saudi arabia. however, we have obtained a rebel government intelligence report, based on mobile phone records and interviews. it says informants were giving live updates of who was arriving at the funeral, suggesting that the air strike was preplanned. the saudis have denied that their central command in riyadh authorised the strike. they blame the air operations centre in marib, so i'm going there. i'm keen to hear what they say about the attack on the funeral hall. marib is only 100 miles east, but due to the war, we need to skirt around the main front line, a ten—hour drive through the mountains. no western journalist has visited here since the war started. i meet units of the national army leading the battle to take control of sana'a from the rebels. these forces are equipped a

of sun also vast amounts and saudi arabia. is not oil, then you know -- for sun, for son another easy resource there to tap. they shouldn't be any problem to attract foreign investors to the country. in saudi arabia wants them to transform aramco from just being veryl company into being a large, diversified energy company. learnudi arabia wants to about solar so we can be the energy company of the future and not just an energy company of the past focused on hydrocarbons. tracy: i wanted ask a broader question about renewable energy in the region. i think we hit a milestone last week and that the cost of solar power actually went below the cost of more traditional types of fuel. how much does that transform or how much pressure does that put on local economies to transform? >> there has been a growing recognition that this shift is happening for some time. dubai has some of the lowest -- solar power costs in the world. so far, it has been the middle this.heerleader on they have done very well and have had successful projects an

from saudi arabia, here is frank gardner. : day in, day warplanes from a saudi led coalition are taking off for yetman -- four yemen. they're looking to restore it yemen's legitimate government ousted by iran backed rebels. militaryll as hitting targets, they have been accused of killing hundreds or thousands of civilians. i went into their coalition headquarters to ask the saudi's how they choose their targets. map showed me a "no strike" which are sites that are off-limits to airstrikes but the chief airman also accuse them of hiding among civilians. >> when you conduct a war in such circumstances, like i told with thee they mix civilians, it is too difficult. mistakes can happen. and we do what is necessary to protect the civilians. we are here to protect civilians. that the u.n. estimates 60% of the casualties in yemen are caused by airstrikes? something is going wrong between the theory and the practice. it is not helpful to make a good decision. i think this is the wrong number. we say 60% of the casualties in yemen are

edge over the its other saudi arabia and and iraqi players.ther thing is that iran is very approximate to india. host: gotcha. thank you so much for that. coming up, how will emerging markets fare under the trump presidency? we will host: 12:30 in hong kong, 5:30 a.m. in china -- we'll has a sort -- oil has soared after opec agrees on production cuts after eight years. two-year flirtation with pricing policies. opec will cut production by 1.2 million barrels per day, with saudi arabia alone-- november russia will change its stance. meeting when we were drawing the accord, we still had difficult administrative questions to solve, which are essentials. the russian energy minister gave the information he would reduced by 3000 barrels per day. boostingdi arabia is the power of its sovereign wealth fund to accelerate you making endless and its dependence on oil. the public investment fund is getting a $27 billion injection from of shoals reserve, increasing its assets by about 17%. dealmaking has quickened as it increases its proportion of foreign

saudi arabia is propping up the u.s. military industrial complex, and what are they doing with those weapons? repressing their own people, going into neighboring people during the arab spring. they were not able to see democratic movements prevail in the neighborhood, went into bahrain where there is a beautiful nonviolent uprising among the population, using u.s. tanks, they came in and crushed that uprising. i mentioned the uprising can be found with al qaeda groups and syria and libya and iraq, but now the weapons are being used to devastate, on already very poor country in the middle east, and that is yemen. that it is something our media does not cover enough. this is something that the american people barely even understand. now it is going on 20 months since the saudi's got involved in an internal conflict in yemen because they worried that one side was close to iran and this would give iran a foothold next door and they went in there, like george bush when he went into a rack and thought it would be quick and dir

that has really been the model in saudi arabia. get their revenue by taxing their oil income and they want to move that model to a model where they are getting more revenue from the non-oil private sector. way saudi change the society works to one that gets revenue from return on investment, essentially. so their whole investment strategy is changing and the revenue will come according to their plan more from the non-oil sector rather than the oil sector. yusuf: you can see here some of the gains that have been made year to date from the different industries. you can see some of the construction intensive ones like cement on the weaker part of the equation. what is the risk that there will be a backlash in growth as a result of this? >> we've seen it this year, and these numbers bear it out. if you cut back on subsidies, that will affect consumer spending. the retail sector has not done so well. a cut back on their projects. they cannot pay contractors so the construction industry isn't doing so well. the energy industry is doing a

. >> saudi arabia and kuwait says noting from oil fields will -- oil production.n ties inwill focus their fight against terror. visits trumps -- tower. >> bright and early here in abu dhabi. >> welcome to bloomberg markets middle east. usef: a very big day. this is the first time that the bloomberg markets' most influential brands summit conference comes here to the region. you are looking at the event being hosted in europe and hong kong and london. but the first time in this part of the world underscores that this part of the world has come to the forefront of a lot of investment decisions that are being made. where aa one-day event lot of the movers and shakers in global finance will talk about the potential of this part of the world, the ongoing challenges. it's been an incredible journey. if you think i could january, oil was at $35 a barrel. that has a huge impact on sentiment. people had written off almost the potential of the saudi -- saudi asset classes. look at that rebound. 26% so far this quarter in gains. then you look across to other of markets like

yousef: tell me more about saudi arabia. many people had almost written off the kingdom, and now a remarkable turnaround rate 26% in terms of equities. what are you telling your clients? sheila: i think cents vision 2030 has announced, -- i think since vision 2030 was announced, many people are looking. see steps being taken toward that. as long as we continue to have progress on the kinds of things that will develop, like more free flow access to the markets, that will bode well for the entire region. yousef: what about the rest of the middle east? there are other interesting stories we have got. is that of interest? think egypt is of interest. here in the emirates, there is a lot to be interested in. oil.sifying away from just many people look at the region and see just oil. chinese tourism, for example, and dubai and abu dhabi is bounds.by leaps and you are starting to see that out of india as well. tourism from the chinese and abu dhabi has gone up 300% in the last few years. is it this realistic transformation is going

you have saudi arabia saying they are prepared to cut. the top for the still. it is very bullish for the it is just adding to that momentum that they would see it through. >> we are seeing that this is a one-way trade. i would actually going to see a substantial rebalancing when it comes to these markets? >> the complaint is the biggest issue here. opec has a tendency to cheat. only see that coming into february or march. we'll have a better idea. we also got the response to whether they would see in opportunity to come back into the market. that will probably cap prices. they are around that $50 mark for the bti. there is positive momentum there, we just have a bit of time yet. almost a holding pattern for the old market to see where it goes from here. >> we were chatting just before this, what you think saudi arabia is trying to achieve here? >> it is not necessarily higher prices, more start -- stability perhaps. alone, it ist u.s. well above its five-year average. it is an opportunity to cut some excess in the market. we can get them

he has a huge operation at exxonmobil in saudi arabia.perations in many of these other stations. i begin to wonder how does that square with donald trump's stated support of israel? >> well i think it squares pretty nicely actually. first of all the gulf oil-producing states are increasingly closer with israel because of their common enemy in iran. so i think that issue is almost a non-issue at this stage. but i will tell you also, liz, i saw exxonmobil negotiate with ali naimi, the saudi petroleum issue back at time i was ambassador over what was called the natural gas initiative. those negotiations despite long history together, became extremely unpleasant and person and finally exxon walked away the from the negotiations because naimi was not wanting to give them rate of return they wanted. despite you have done business with officials in country doesn't mean you're sending valentines. liz: this is video after in israel last night they took possession of two f-35 fighter jets. ash carter, our secretary of defense currently was right th

government has just said, and i quote from ssm estimates of a problem in saudi arabia is targeting showed the u.s. decision to halt a future weapons involving decision guided munitions. the saudis have u.k. supplied per session guided missiles made in scotland. the u.k. has licensed 3.3 billion pounds worth of arms to saudi arabia since the beginning of the bombing campaign. what will it take for the u.k. to adopt an ethical foreign policy? [shouting] >> is the right honorable gentleman knows the intervention in yemen is a u.s. backed intervention. as i said previously whether allegations of riches national humanitarian law requires us to be properly investigated. we do have a relationship with saudi arabia and the security of the gulf is important to them. i simply remind the honorable gentleman that saudi intelligence and counterterrorism, the intelligence in saudi arabia by sage essentially hundreds of lives here in the u.k. the >> mr. speaker, one of my constituents in such a move to residential care because no care could be found in her own home pages at the sharp end of the crisis a

saudi arabia initiative. there are some points that are very positive and we can discuss and it's possible to thank them for the negotiation. there are some other points like right of return, it's completely impossible. but when we talk, we will result any preconditions, and my expectations, if we will start negotiations, they will come without preconditions. regarding relations with egypt, we have normal relations. we have embassy in cairo, we have embassy in tel aviv and we have talks, and i think it's lot more relations as between the two normal states. regarding their relations with saudi arabia, it's not our business of course, we are monitoring everything, what happens in our region, but it's bilateral talks, between saudi arabia and egypt and i don't think that our opinion or our public statements will be so necessary regarding this issue. >> i think i speak for everyone when i say i'm sorry that's all the time i have. i think i speak for everyone when i say thank you so much for your time [ applause ]

countries like russia and saudi arabia, or saudi arabia and iran are not exactly friends. there is the possibility that this deal will remain nothing but a large verbal intervention. >> thank you very much for that analysis from frankfurt. >> that is all, it is back to fill -- phil. >> hollywood's global -- golden globe nominations have been published with a musical leading the pack. "la la land has --"la la land" has been nominated. it stars emma stone and ryan gosling. let's get more from our culture editor. "la la land" is a musical, which seems odd, unusual, quite in today's cinema landscape. >> doesn't really. this is hollywood's tribute to the golden age. you think back to titles like "42nd street" and "singing in the rain." what more do we want these days of than nostalgia? the struggling musician, romance, beautiful choreography and you can literally dancing your troubles away. i think in politically fraught times -- it is also very much hollywood celebrating itself. the film cleaned up at last night critic choice awards, which very much preempted the golden globes

i want to ask about your comment about saudi arabia. the u.s. going to saudi arabia very recently. what its role particularly is, as we wrapup this discussion? >> in terms of syria? -- in theria, yemen region, and the u.s. relationship with saudi arabia? >> well, the u.s. and saudi arabia, obviously, have an extremely close relationship in any number of fields. [indiscernible] in the middle east. now we see the war in yemen is primarily a saudi effort. but it is one in which u.s. is in fact directly for dissipating, both through massive arms sales to saudi arabia, intelligence support, refueling of saudi jets, disrupting -- with many of these perfect bombing runs all of her yemen and so on. in terms of syria, i think the situation is a little different. there you have one where saudi arabia has actually been much more eager to go much further in terms of its support of syrian opposition groups than have united states. but in syria, you have the u.s. more or less exercising the kind of veto over certain kinds of support that saudi arabia and other states are permitted to give to the

has blocked sales of weapons to saudi arabia. you think that will have any effect on diplomatic ties? peter: i think it is quite likely to. the saudi-u.s. relationship has not been particularly good for some time. the saudi see the uss retreating from the region and not backing its allies, whereas the u.s. sees their relationship, or rather the obama administration sees the relationship with saudi deeplyas being problematic, especially since the campaign began, given concerns over the use of u.s. made weapons in alleged war crimes. richelle: why do you think the u.s. has done this now? the war in yemen began nearly two years ago, so why now? good: that's a very question, and why no one really knows the answer to get. it could be that because within the white house there has been some kind of legal documents have saidhere people internally that war crimes are being committed, especially was bombed aeral couple of months ago. it may also be that the obama administration is now outgoing and has to less about the long-term consequenc

saudi arabia has shown a huge amount of will to make this work.hey said they will cut more than they signed up for, and they are cutting more than anyone. so the will is there, but if there is widespread noncompliance, saudi arabia's patients will be tested. opec has tended to override political rivalries. we have russia, iraq, iran on board, all three sides if we look at the syrian war as an backing one side, on the other side saudi arabia and its allies in the gulf as part of the deal, backing the other side of that war. , so therey it grossly are huge political rivalries and they still managed to get the deal. that looks likely to last in less there is an excavation. -- escalation. angie: what is the outlook for the oil price now then? well, angie, we have heard a lot of talk of it might go to $60 in the next few days. some people are talking about $70 being a new target price now that these barrels are coming off the market. what it depends on is how quickly u.s. shale production responds, and there is little agreement on that. some are saying

white house officials expressed immediate concern, warning that security cooperation with saudi arabia was not a blank check. the u.s. government has been the saudi coalition's strongest backer providing support, including midair refueling. the recently retired ambassador worked with the state department and was dealing with the yemen war for more than one year. engagede not actively in supporting the government of saudi arabia in carrying out these actions. reporter: you are providing them with the airplanes, the bonds, advice, and refuteling the committingaid to be war crimes. does that not make the american government complicit if war crimes are being committed? >> i don't think so. reporter: a u.s. congressman believes that his government needs to change its policy and cooperating with saudi arabia. >> you can be guilty of aiding and abetting war crimes. if you are in that operation, refueling a jet does constitute a war crime, opening the united states to risk. we need to stop doing it. reporter: the airplane that carried out the funeral attack was directed by the yemenese without

dheepthika: pregnant saudi arabia has supported the saudi-led coalition in -- and saudi arabia -- britain and saudi arabia -- britain has been critical of saudi arabian airstrikes there. it has criticized what he calls johnson's hypocrisy, saying his conduct would be best expressed by helping the export of weapons to the country. he is licensed more than 3 billion euros of weapons sales since the conflict began. molly: another big story where following the press is the battle for aleppo. the ticket code the atlantic putin -- that aleppo has all but fallen to the syrian regime. it shows how a foreign power can influence in a war, this time russia. they lack of stability can cause a turnaround in the civil war. the saudi newspaper slammed what it calls the powerlessness of the u.n. she criticizes the west's at parker's he from the west were calling for bashar al-assad's -- now they are saying he is actually part of the solution, a solution she says is unfair to the syrian people, even that at least 400,000 people have died in the five-year war. this cartoon, which really sums up the chaos i

saudi arabia is involved in a war with in yemen. their aircraft to being refueled by american planes. aircraft they're flying are u.s. manufactured. and drop in american weapon -- i don't see that being good for anybody and good for the united states so there really needs to be a re-examination of our arm sales policies. >> and we're talking with retired boston university professor andrew, about his most recent book america's war for the greater middle east. a military history here is the cover and let's listen next to paul in san diego. paul, go ahead with your question or comment. >> hi, thank you so very much for taking my call and thank you for c-span and guest, my question is this: what type of rip the effects would happen if there was a solution to the palestinian issue is there really mission impossible and if it isn't, if we could get it done, what do you see happening in the region? and thank you so much and i'll take any question with out there. >> thank you, sir. >> sadly i think it is mission impossible because neither o

and pakistan and to what country has saudi arabia most lavishly and successfully exported its ideologyosques preach a message much like the saudi ideology. tashfeen malik, the san bernardino killer is a product of radical islam globalized by saudi money. up next ax crucial question. when we ask why they hate us, how many are there in the first place? >> 300 million people who are ready to strap bombs on their bodies. >> at most, 100,000 people. >> reporter: getting the facts right, when we return. yeah, chevy was great in that. who played the wife? beverly d'angelo! juliette lewis costarred as the daughter. oh, i think it was um... chris columbus was the director... it's called claymation... narwhals really exist... actually guys, it was the ghost of christmas past... never stick your tongue on a frozen flag pole... yukon cornelius... "die hard" is considered a christmas movie! that's the unlimited effect. stream your entertainment with unlimited data when you switch to at&t and have directv. >> reporter: if you believed everything you heard about islam on certain cable news channels,

also, the direct communication with saudi arabia.tarting with the jew 20 meeting -- starting with the g-20 meeting this year. wantatest is the russians this on the 10th of december. what is going to happen? meetingl the opec today. up next, tensions over the iranian nuclear deal grow as israel seeks to hold donald trump in the debate. this is bloomberg. ♪ yousef: >> this is the best of bloomberg markets, middle east. israel's trimester meets donald trump. benjamin netanyahu may gain some traction. >> the question we can raise is what can netanyahu do? the answer is it is complicated. that was a multilateral deal. doesn't have the power to put an end to this deal. what netanyahu can do is try to influence u.s. policy. election,onald trump we have more of the republican party power and we know there have been more things and demand. there needs to be pressure on it. what can happen is for additional sanctions to be ,pplied through the congress that would reach a level that would undo any benefit that iran may have gained from the deal.

how exactly is saudi arabia going to accomplish this?ey hired some advisors to consult them on how to achieve that initially, and the idea, the thinking goes that basically, they want to start with trying to boost the company profiles and reputation by allowing the ecosystem that goes around creating a big company that goes for research and development, supply chain, probably provides them with some financial incentives and help accessing funds and so on, and they are trying to basically see how much they can boost the jobste sector and create through that plan. >> i wanted to pick up on that point. saudi arabia has been trying to transform it economy, trying to wean itself off its reliance on oil and energy for some time. exactly what will this do in the pursuit of this goal? >> they are in the beginning of this, so we do not know the willls yet in how they accomplish this step, but this is kind of a broad stroke, but you are looking at an economy that right now only 40% private sector, and they are trying to boost that to 65% by 2030.

saudi arabia had a separate announcement as well.ake us through what happened here. >> hi, yvonne. quite significant news over the weekend. non-opec producers agreed to cut production by 558,000 barrels a day. this is led by russia, they will cut output by 300,000 barrels a day. you have countries like mexico and catholic stance or part of this agreement trade immediately after this was announced, saudi arabia's oil minister got up and said saudi arabia was willing to go beyond the cuts they agreed to november 30 in vienna. a, clearly there is commitment by saudi arabia and these other countries to really get supply and demand back into balance. this shows over the weekend, it's the first agreement between opec and non-opec reducers in about 15 years to scale back production. you have a coordinated effort by some of the world's largest producers, including saudi arabia, russia, iran, and iraq, a lot ofside geopolitical differences to cut back on production and get supply and demand act into -- and demand back into balance. ramy: what

my question has to do with saudi arabia. year ago i heard a report that got released from the pentagon that the funding and coordination of 9/11 trace to central governing elements of saudi arabia and the royal family and the starting position would have to include the bin ladens and the house of saud board meeting closely. all hands on deck with them. knowing that i was wondering what the professor's response is. >> guest: what we know and what we suspect, we don't know. as citizens we don't know everything but i think what we do know is wealthy individuals in saudi arabia have for years and decades been using their wealth to promote a radical version of islam. what we don't know some alleged, some suspect. what we don't know is decisionmaker's in the royal family are directly complicit in that. we know that elements within saudi arabia have promoted radicalism. we don't know that the royal family was in bed with osama bin laden to the earlier question. >> host: greg in florida. >> guest: why this fancying the united states

but it is a reminder that saudi arabia is at war and the war has come to saudi citizens.stic missiles have been coming across the border. scuds and this russian—made one launched by the houthi rebels. the saudis deploy missiles to shoot them down. this war is over 20 months old and the missiles and the strikes continue and neither side prepared to back down. when we have scud missiles it is like fireworks. do you believe there are many more scuds they could still fire? many many times. on another part of the border i met saudi villagers badly injured by shrapnel from a houthi missile that had hit their mosque. given what has happened to this man and his use permanent disability, in a wheelchair unluckily, why would you stay on in this village so close to the border? he is saying that he was born here and his friends say the same thing. this is where they live. further away from the border we found this market. people here are nearly all yemeni who fled the broken economy of the country. i asked this man if the fighting on the border was affecting his business. not really,

saudi arabia and china. what we are watching.narrowing its customers to focus on relationships. the firm readies to sell 7000 clients -- tell more clients to do more trading with the firm or take a hike. lagardehristine convicted of one count of negligence by a paris court. at the parisve courthouse over her handling of that dispute. one" led the domestic box office with $155 million at the box office. will the strategy of spinning

and second, i wanted to ask you about saudi arabia. that story has come out today. i'm wondering if you can help unpack this idea that the u.s. is limiting military support from the saudis because ever what's been happening, vis-a-vis civilian casualties in yemen. >> i can take the yemen one. >> i'm just say about the -- i defer to my dod colleagues who work this every day. this has been the most precise air campaign in history. it will be sdded in the future and the most precise air campaign in history. and all of our air strikes go through a common structure in terms of validating the targets. and it is really moving at an incredible clip. i can't get into details of sometimes who does a strike and everything. and what i will say is what i me mentioned today and also mentioned by secretary carter today, eliminating these external plotters in the streets of raqqah, painstakingly, tireless work by our intelligence apparatus all working as one team. and it doesn't always work that way, but it is working quite, quite well. i can't get into in terms of who does what. bu

this caught my eye, saudi arabia against the shift from oil to solar power. than any other country to generate power, so there is a feeling saudi arabia produces this oil and sells at overseas but that is not the case. yes, saudi arabia uses 900,000 barrels a day to generate electricity, costing the equivalent of $16 billion. which it is not gaining in exports to other countries. saudi arabia is going through a big transition to get itself weaned off a dependence on oil revenues, to diversify its economy. and so one thing it is talking about is shifting from oil to solar energy. it needs that $16 billion which is essential to balance its budget. it is introducing a lot of new changes and today is budget day in saudi arabia and they are expected to announce new taxes for expats. the price of electricity and water, a lot of things expected to go up, a big shift in the near future. this is behind this decision to lead 0pec into a production cut. it needs higher revenues. let's talk about facebook, twitter. in fact, facebook lurking makes people miserable. lookin

what is saudi arabia doing this for? talked to our cheap energy correspondent, earlier. -- whether this is about putting a floor underneath the market. david: the ipo of aramco needs it. anne-marie,e news, but saudi arabia front and center saying we will do whatever it takes. what is driving them to do that? : that was the shocking news after they announced its opec not opec agreement. that is what we saw move the market and that is why we see brent trading above $55 a barrel. the saudi oil minister says to cut below 10 million barrels a day is a key psychological rep -- level, a red line for the kingdom. they never said they wanted to go below 10 million barrels and this means they will be bearing an even bigger front if they decide to cut below that line. jonathan: people still question the compliance of whether these countries will follow through. can you walk me through the cuts? on the real cuts versus natural decline, besides russia and kazakhstan, all of countries, non-opec members, they are white noise. russia is

from within and that opec and non-opec group of countries that they are providing the support to saudi arabia are going to do whatever it takes. you could get other countries, angola, olivia, algeria, and saying if the saudi's are going to do it, we don't need to do it. the saudi's are offering a good option to the rest of the market. that is a dangerous position. tom: it is newtonian monday here at "surveillance." there's like six plug-ins to where oil ought to be. the general question is, where should oil ought to be? with the elasticity of supply in america, with all the dynamics you described on opec, the cartel, where is the best market clearing price for oil? >> i think that $60 probably is that price. above that price, you start destroying some demand. oil is pretty expensive now in non-dollar currencies because we have a strong oil price appreciating at the same time we have a stronger dollar. you are in china, india. that is the demand side. the other factor limiting the think is,or oil, i you're going to have shale producers in the united states. we have record inventories they are

saide gentleman has just that these systematic problems and saudi arabia's targeting drones -- caused the u.s. to halt a future weapons sale. the saudi's have u.k. supplied guided medicines -- missiles made in scotland. the u.k. has licensed 3.3 billion pounds worth of arms to saudi arabia since the beginning of the bombing campaign. what will it take for the u.k. to adopt an ethical foreign policy -- [commotion] as the right honorable gentleman knows, intervention in yemen is a u.n. intervention. as i've said previously, where there are allegations of reaches of humanitarian law, we require those to be properly investigated. we do have a relationship with saudi arabia. the security of the gulf is important to us. i would also remind the gentleman that saudi intelligence and counterterrorism links -- the intelligence we get from saudi arabia has saved tensely hundreds of lives in the u.k. constituents has had to move to residential care because no carers could be found to support her in her home. she is part of a crisis in social care that is about an adequate funding and the shortfal