saudi aramco is landmark i.p.o. is costing the kingdom billions, the initial public offering of saudi aramco, that was heralded by crown prince mohammed bin salman m.b.'s as being a showcase floatation for raising massive new capital for the kingdom. and anchoring a major expansion of its international equities markets presence has proven only to put iran co into a death spiral and highlighted a myriad of problems in saudi arabia to international investors. now, iran co is digging itself further into serious debt through bond issuance. a simply to pay for the huge dividend payments promised by m.p.'s that were absolutely required to persuade anyone to buy into the, on the toxic i.p.o. at this rate. the debt taken on by around co and other saudi bond offerings to pay for the dividends will be far more than the amount of money raised in the i.p.o. . right? so as you point out, this financialization has its limits. the accounting fix of stock buybacks and money printing have their limits in saudi arabia. we see a brill

is costing the kingdom billions the initial public offering of saudi aramco that was heralded. by crown prince mohammed bin salman m.b.'s as being a showcase floatation for raising massive new capital for the kingdom and anchoring a major expansion of its international equities markets presence has proven only to put around go into a debt spiral and highlighted a myriad of problems in saudi arabia to international investors now iran co is digging itself further into serious debt through bond issuance is simply to pay for the huge dividend payments promised by m.p.'s that were absolute you cryer to persuade anyone to buy into the on the toxic i.p.o. at this rate the debt taken on by aramco and other saudi bond offerings to pay for the dividends will be far more than the amount of money raised in the i.p.o. right now as you point out this financialization has its limits the accounting tricks of stock buybacks in money printing have their limits in saudi arabia we see a brilliant example of what happens when a country decides to go into financialization instead of what say diversi

since all giant saudi aramco listed last december the largest i.p.o. today is i believe the saudi arabia oil company which is listed on a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack's expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a statement the company says it will comply with the regulators requests it executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong the most high profile person jailed on the hong kong's controversial national security law is now out on bail jimmy lay's spent nearly 3 weeks in jail on charges that he colluded with foreign forces they will continue to remain under house arrest several pro-democracy activists have faced similar charges under

since oil giant saudi aramco listed last december the largest i.p.o. today. of the saudi arabia oil company which is. a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack's expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a state but the company says it will comply with the regular his requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. iraq's government recently devalued the local currency the iraqi dinar by more than 20 percent is the biggest currency devaluation against the dollar since the 2003 fall of saddam hussein traffic has this report from baghdad. for more than a year theory abraham has been coming to protest in central baghdad to demand better services

deserve a cut of the the oil money and then that started to disappear so they're floating their saudi aramco and trying to find some funds to feed all the 7000 princes the same in america and what he says is the where the chaos stars is with the counter elites because these are at least that start to turn against the other elites as the battle for this big lie the potemkin economy starts to disintegrate the whole thing the you know the mirage disappears right there is no bubble like an elite bubble because they are so narcissistic that they don't see the bubble they're the least to see the last to see the own bubble of the elites and so when it gets extended like it is now this house of peaches that's about to explode in everyone's face with michael sailors' grenade of buybacks of bitcoin using government cheap money is is something we haven't seen since the reign of terror quite frankly in revolutionary france 40000 elites war you know. met their maker as part of the revolution well now they're their wealth will be decapitated their wealth will be a god they'll be dig dig dig capitalized do

we over surpassed saudi aramco i.p.o. . bell you ation the company i think the. top officials in china just got nervous at how much power this company has and they kind of just kind of told them who's the boss and old bat long term it won't stop in financial i.p.o. you financial group spawn out of ali baba which is one of the world's largest tech companies and it's basically the top leadership is just trying to gain control before you know they're probably most likely i.p.o. in next years i don't expect any long term changes that would follow up on the same financial dail it's an enormous company it's as big as j.p. morgan the biggest bank in the world plus it's spun out of alibaba as you point out jack mosque company which is rivals amazon for global dominance in the retail sector and it's part and parcel of the submerging model in china which i guess one could call their surveillance capitalism where the alley pay which is a very you know phone enabled pay service connected to all the credit service connected and financial connected to the c.c.p. the chinese go

last month, houthi rebels in yemen took credit for firing a missile at a saudi aramco oil company distributionstation in jeddah. this comes as the trump administration is considering designating the houthis as a terrorist organization despite concerns the move could worsen the humanitarian crisis in yemen by hindering the work of aid groups. the united state has removed sudan from its list of state sponsors of terrorism. the move is seen as part of a deal thasaw sudan and israel agree to establish formal bilateral ties in october. in 1993, the clinton administration placed sudan on the list for hosting osama bin laden in khartoum. the move had essentially cut off sudan from the international finance system for nearly three decades. the trump administration has issued sanctions on a turkish defense agency and four officials for turkey's purchase of a russian-made missile defense system in 2017. the move came just days after the u.s. congress passed a military spending bill that would have required the sanctions be imposed against turkey, a nato ally. last week the european union agreed to sanct

since all giant saudi aramco listed last december the largest i.p.o. today is ability of the saudi arabia oil company which is just a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a state but the company says it will comply with the regulators requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. check the weather here. hello a wintry scene is unfolding slowly across the european plane to give a traditional christmas day look this is what it will look like temperatures are dropping that low single figures will be plenty of snow particularly on the alps and then it squashes down against what is still going t

since all giant saudi aramco listed last december the largest i.p.o. today is i believe the saudi arabia oil company which is just a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the mega float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire in a state but the company says it will comply with the regulators requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. thailand's capital is notorious for its traffic and pollution including owners waterways now the government is looking to make one port pillar method of transport greener and much quieter scott heiler has more. fishing out his front door like he has for the last 40 years amarin it needs your mom lives in a community

since oil giant saudi aramco listed last december the largest i.p.o. today i believe the saudi arabia oil company which is just a couple of years ago at 28000000000. and sister company alibaba went public in 2014 listing on the new york stock exchange in a $25000000000.00 flight this time the company chose the domestic market in china for its debut but the make a float is on hold for now this latest investigation is part of the government's escalating scrutiny of jack expanding empire and represents heightened tensions between chinese president xi jinping and the billionaire and a stipend the company says it will comply with the regular his requests its executives are expected to be summoned in coming days sarah clarke al-jazeera hong kong. what's often called the happiest time of the year has been anything but that christmas celebrations have drastically changed with people trying to stop the spread of covered 19. these are live pictures this coming from the vatican pope francis is holding a christmas eve mass this here no faithful are able to particip

beijing beingities after that ipo shelved, which was supposed to be the world's largest, surpassing saudi aramcoijing authorities have been changing the landscape of regulation when it comes to fintech. and now, we are hearing china will be probing alibaba group on suspected monopoly. this as we continue to see efforts in the country to rein andech giants like alibaba their fintech branch and group. let's turn to markets, sterling exit -- on a brexit outline deal. investigators are putting the finishing touches on a deal but it was enough to send able higher. the bloomberg rates reporter joining us now. david, sterling has risen on the news of the potential deal but still remains below the december high. what is happening? david: yeah, that is the interesting thing. basically the markets have already priced it in now. bullish,if you are that would be the hottest in 2018. been, i thinkn't one of the reasons is because this has been priced into the markets quite happily. and the new cases in the u.k., combined with the lockdown, is not positive. the market is always forward dealing and is going, t

sell cloudo computing services in saudi arabia via a deal with top oil producer, aramco.or from potential to not work in the energy industry. this pumped in many businesses to pull back from the country. going to the market action, take a look at japan as we go into the lunch break there. let's see what is going on with the regional stocks. this is on the record insurance of debt coming in from japan. let's look at some of the markets. toyota is having transport delays because of a new strain of coronavirus spreading in the u.k.. 55% up, there is a robo advisor, it is one of the biggest initial public offerings on the tokyo case this year. chase this year. softbank had that being issued. ♪ >> it is 10:29 a.m. in hong kong and shanghai. i am karina mitchell. karina: the senate is considering a $900 billion virus believe bill just passed by the house moments ago, along with a larger measure to fund the government. the package includes funding for small business, stimulus payments for individuals, unemployment benefits and support for vaccines, education, and childcare. mitc