talking about. just got an investment banking license in saudi arabia. i know you're very a i did what is possible there. what are you planning? what else are you going to do? mr. sayegh: it is very clear to all that the two economies are very much linked. saudi economy are linked to a large extent. and if you need to have a country that's as prosperous, you need to have very strong financial sector. it is linked to the saudi market. >> it has been an important component of the uae bank strategy. we have seen your rivals at assets in turkey. are you considering acquisitions to spearhead opportunities for this new -- mr. al aradi: to be realistic, we're focusing on what we have. the bank is present in a few countries. on the customer base. , the bank ofard ,he uae with asia and the west there is a lot of value in terms of trade. and we are in a position to capture those. >> acquisitions are not currently something you are looking at. mr. sayegh: not currently. >> the pressures that moderated a year ago, there was significant pressure that has abated somewhat. for someour forecast of the

saudi arabia's crown prince mohammad bin salman to the white house. the president praised the kingdom as a "big purchaser of u.s. armaments." keyng saudi arabia is a partner in the fight against islamic state, and containing iran's influence in the middle east. pres. trump: the relationship was a very, very strange. during the obama administration. as relationship is probably good as it has ever been. i think we will probably only tremendous investments made in our country. that means jobs for our workers. jobs for our people. for: this fight calls advocacy calls for -- to contend saudi arabia's poor human rights records. the president has signaled the u.s. will not seek to impose its values on countries that support american foreign-policy and economic objectives. israeli prime minister benjamin netanyahu says the palestinians are "losing it" and "their real face is expose, they do not want peace." comments were an apparent response to a speech by the palestinian authority in which he berated the american ambassador to israel. in an address to palestinian officials, he preemp

week. saudi arabia and the u.k. target $90 billion of trade and investment deals as the kingdom visits london. theresa may calls that a vote of confidence ahead of brexit. markets are rattled by president trump's tariffs. gary cohn quits and retaliation is threatened by china. could saudi arabia be the next to join the shale revolution? we have the story. first, the u.k. rolled out the red carpet for saudi arabia prince. he met with theresa may, with the two countries agreeing to a goal of $90 billion of mutual trade and investment in the coming years. may's office called it a vote of confidence in the economy before britain leaves the european union. i got more details from bloomberg's emily horton. >> it is key for both governments as theresa may embarking on the post european union, she sees it as a vote of confidence in the u.k. after brexit. and really for the crown prince, this is his first test on the international scene. can he bring foreign investment into the country as they look towards this 2030 vision to expand the economy past oil. yesterday, it was a political day

the meeting. president trump saying saudi arabia is a good friend and great purchaser. --t he means is sales have sales of billions of dollars of missiles have been closed. he also said the middle east "has not been a pretty picture," and the saudi prince says his country is the oldest our of the united states in the middle east. once again, the prince of saudi arabia meeting with. donald trump -- with donald trump. this is bloomberg. ♪ ♪ vonnie: live from new york i am vonnie quinn. mark: i am mark barton, counts new down to the european close. president trump is meeting with the saudi crown prince, going on right now. we are getting some headlines. trump saying saudi arabia is a good friend and purchaser. $12.5ns that the closed billion worth of sales and claims to saudi arabia, so he mentioned that off the bat. that they are a good purchaser in good friend. the saudi prince says the saudi friend tothe oldest the u.s. from the middle east. we will bring you taped playback of that as soon as we get it. just weeks after his release, another prince is back to work, reshaping his

. first, the u.k. rolled out the red carpet for saudi arabia the twoince, and countries agreeing to a goal of $90 billion of mutual trade and investment in the coming years. called it a vote of confidence in the economy before britain leaves the european union. i have more details. is key for both governments as theresa may embarking on the post european sees it as a vote of confidence in the u.k. after brexit. the first test on the international scene. vision.k at this 2030 a politicalt was day. they first met with the queen of buckingham palace then came to downing street. we saw him in a bunch of entering joined him downing street with recent. is the business day. they are expected to sign 14 deals. interested to see what companies are involved. yousef: and there the reality of trying to reconcile the protest on the ground with opposition from government as well from parliament. progress being the business of ally and security in the region, isn't it? for the a fine line u.k. government. they want to continue this political and business support with the kingdom. but at downing stre

hopes riding on it in saudi arabia? think is the whole strategic economic foreign policy outfitted saudi arabia encapsulated in the saudi aramco ipo. the idea is to have the largest orthern wealth fund by 2020 2022, it has to be done. fund is2 trillion basically based on that ipo. has to be considered in terms of market conditions, which means the pricing and demand and supply has to be there. so when the right time is appropriate, the ipo will happen. vonnie: as part of the vision of 2030, does this seat into every part of 2030 and how is that progressing? john: if you look at vision 2030, a lot of things have taken place since 2015, 2016 when it was announced in terms of the fiscal planning. there is a plan and a target deficit and surplus by 2022. i think growth prospects in stimuli are coming in, the human aspect and labor force, targets and employment goals are very much in tune with the vision and i think as i say, the saudi arabia of today, there is a vision and plan. the saudi arabia of five years ago is that it was no plan or vision. there is a huge difference in the way s

political way at times to make the kingdom geopolitically important. >> saying with saudi arabia and the u.k. forest -- boris johnson praised mbs reform program and said it is bringing positive economic and social changes to the kingdom. the head of mina equity strategies has upgraded the country to overweight and is predicting a total return of 30% by mid-2019. i asked him whether that was predicated on saudi arabia winning inclusion to msci emerging-market index. >> a lot of it is predicated on that but an interesting thing in saudi arabia. banks are the heavyweights in the index and they are the most year toward rising interest rates in the u.s. among emerging market banks. .hat will support the market there are technical and fundamental reasons on why it returns are more polished on saudi arabia. the saudi arabia backstory is amazing, the flows going into the banks particularly. what about headwinds for the saudi market with the oil minister saying the aramco ipo could be delayed until 2019, supposed to be such an important event for the market, for capital markets, does that change

technology. saudi arabia is reportedly scaling back plans for the public offering of aramco. that is according to "the wall othersjournal," and close to the matter. they plan to will american business leaders during a trip to united states. thank you very much. staying in the gcc, a bloomberg exclusive, sally's -- saudi , sata's alaweed bin talal down for an interview. eric started by asking why he is breaking his silence. : i need to clear my name , and clear a lot of the lies. for example, they said i was tortured and sent to prison in themy 83 days ritz-carlton hotel. time there. whole i was never tortured. i was given the best service. the saudi government sent doctors twice a day. we had the best service, best film, best everything. it hurts me to hear these rumors and innuendos and heresies. >> this whole ordeal has affected your reputation. people will still believe no matter what you tell me today that because you were in the , you must be guilty of something, or crooked perhaps . surely, you must realize that. when you were detained, some of the business and banking communit

saudi arabia's prince alwaleed. just weeks after his release from detention. >> yes, i have been vindicated. we do have a confirmed understanding with the government going forward. ♪ ♪ taylor: welcome back to "bloomberg businessweek." jason: you can find us online at businessweek.com. taylor: and on our mobile app. our reporters have done with -- our reporters sat down with saudi arabia's prince alwaleed. talal. jason: he was caught up in anticorruption last year. taylor: he was locked up in the ritz carlton. >> i need to clear my name and the lies. he said i was tortured, i was sent to prison. during my 83-plus days in the ritz carlton hotel. these were lies. i stayed the whole time there, i was never tortured and given the best service by the saudi government. doctors would come twice a day. we had the best of service, best food, best everything. it disturbs me to hear all of these rumors and innuendos and heresies. >> this whole ordeal has affected your reputation. people will still believe no matter what you tell me today that because you were in the ritz carlton, you mus

moments. shery shery: the most famous frm the saudi arabia and purge talks about his days in detention. trade tensions rise, the u.s. is set to impose sanctions on china. the chinese premier says there is no winner in a trade war. vonnie: julie hyman is with us and we are half an hour into the trading day. we are watching facebook which is lower but generally the indices are higher? julie: we saw a broad-based selloff yesterday but it's a bounce today but not as broad-based as the selling was. energy stocks and industrials are helping lead the rebound. oil prices are bouncing as well. the nasdaq is up a quarter of a percent after the selling we saw yesterday. as for facebook itself, it is indeed not recovering. if you look at the today chart of facebook and how it has been, we are still seeing selling thature after we reported the federal trade commission is probing the company over whether it violated terms of a 2011 consent decree. we have facebook shares perhaps? in any case, facebook shares are down 8.6% over the past two sessions. thedecline yesterday was worst since mar

yemen says the recent barrage of ballistic missiles fired into saudi arabia was a political message to the kingdom and its allies. he denies the missiles were manufactured in iran. shiite rebels targeted saudi arabia on the third anniversary of the war in yemen, with fragments of one missile over riyadh killing one person and wounding two others. the launch was reportedly used to indicate houthi forces were far from depleted after three years of fighting. global news powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. scarlet: let's get a recap of today's market action. in equities, to the downside. the selloff in tech shares dragging the nasdaq lower 2.9%. the dow losing 345 points, one day after placing -- posting its third-best point gain on record. the volatility continues. joe: one thing that did not selloff was treasuries. unlike in the volatility in february, we actually saw a pretty sharp bid into treasuries, 10-year yields tumbling seven basis points. let's bring in brian chappatta. different vibe from the recent sel

of stability. juliette: saudi arabia's prince, one of the richest men in the world has said he is moving powered following his release. he made the comments in an exclusive interview with bloomberg. >> i am far anticorruption in place in saudi arabia. unfortunately, i was part of that group. but fortunately, i am out of it right now. i am not the person who is going to come and say i forgive but don't forget. i forgive and i forget at the same time also. juliette: you can see our interview with him in full tomorrow. in the u.s., donald trump has made his most direct attack to date on the justice department's investigation into russian election-meddling being led by special counsel robert mueller. a showdown may be growing. the president tweeted, why does the mueller team have democrats and no republicans? muelle isr oust excited to ignite a political firestorm in washington. global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. stories on there bloomberg at top . here in asia, in a was alluding to the scandal that ingles pr

britain on wednesday, he said saudi arabia will help keep the u.k. safe with extensive sharing of intelligence. meanwhile, the paper is reporting that no decision on the international part of the aramco ipo will be announced on his trip. global news 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries around the world. i am debra mao and this is bloomberg. let's talk about markets again. they seem to be warming up to the idea that president trump might be forced to tone down ideas on trade. u.s. stocks rose on monday with asia following this morning, as concerns begin to ease. ray dalio, he has got him running the world's largest hedge fund and he reckons the impact of tamara henderson -- the impact of tariffs will be very small. the ceo of volkswagen says that the u.s. cannot simply rip up trade agreements. >> nafta cannot be canceled. we have all relied on transportation and we should not abandon this good idea. knights around the roundtable, looking for the best solution. reporter: we are now joined down the line to flesh out some of the latest de

functioning as we were before. we welcome them to come here to see what we are doing in saudi arabia. life is back to normal. erik: how will you know if it is or isn't affecting your business and investment opportunities? >> i know because i met a lot of businessmen, and the banking community is a very important barometer. we met most of them, and we are still meeting some of them. we take the position of trust and confidence in us and say we are willing to continue as before. erik: it would surely help if the government said all wally did nothing -- alwaleed did nothing wrong. he remains a saudi citizen in good standing. that has not happened. >> all of these points were in the, confirmed understanding agreement between the government. i cannot go into that. the government cannot go into that. erik: i understand, but you have to agree, surely, that if the government, prince mohammed or some other government official were to say, were to affirm everything we discussed today, that would help. am speakingthat i to you right now and saying everything honestly, and the fact that the government

a push for more regulation. there's a report that saudi arabia scaling back plans for a ublic offering for aramco. the oil giant would be listed next year only on the saudi stock exchange, according to the "wall street journal." they're reportedly taking more time to decide if an international listing is worthwhile. the movie studio weinstein company has filed for bankruptcy. weinstein failed in the wake of sexual harassment claims against co-founder harvey weinstein. the company plans to sell its assets to an affiliate of lantern capital partners. weinstein agreed to release any women who settled sexual harassment claims from nondisclosure agreements. and that's your bloomberg business flash. francine, guy? guy: taylor, thank you very much indeed. washington is set to rad to slap tariffs on china by the end of the week. anwhile, in beijing, premier says a trade war is in nobody's interest. >> indeed we have heard much talk about a possible trade war between china and the united states recently. we believe that a trade war does no good, no one will emerge a winner from a trade

election. saudi arabia's energy manager has hinted that the ipo of the state oil company aramco could be delayed until 2019. the move would push back a central plank of conference -- of the crown prince's economy carried the comments made an interview is bloomberg. >> i don't believe that we are hitting any deadlines and as far as i'm concerned, between december 31 and anywhere one, there is no value loss for the kingdom. i don't see the deadline that you prefer to as being significant. goldman sachs ceo says that he plans to step down did not come from him. he tweeted, i feel like huck finn listening to his own eulogy. lankfein has yet to set a timetable for his departure or discuss plans with senior colleagues. walt disney's lack panther debut in china has pushed the movies worldwide takings to more than $1 billion. if the company's 16th come to reach that milestone. the movie has been setting sales records and become a symbol for promoting diversity. it is expected to surpass have a billion-dollar in international sales as we can. global news, 24 hours a day, powered by more

exclusions. >> saudi arabia's crown prince is in egypt for a three-day president al cc witnessed the signing of three agreements and investment memorandums of understanding between the two countries in a number of fields. black panther remains on top of the north american box office for a third straight week, holding off new movies from jennifer lawrence and bruce willis. it took him a $66 million in the u.s. and canada, the third-best third weekend on record. black panther has raked in more than $500 million, surpassing that mark today's faster than star wars, the last jedi. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. yousef: let's get back to one of our top stories. economicse premier work report has been the main focus on the first day of the npc. he put the emphasis on ensuring financial stability, while omitting any intention to pursue growth of more than 6.5%, which was a departure from last year statement. tom mackenzie is that the great hall of the people in beijing. what are the key insights here? a tweak around t

has a the opportunities in saudi arabia. yousef: anybody who doubted that they were here to stay as an international issue, or this is evidence contrary, this makes them in the emerging markets. the government told us they will refinance the loan and then come up with a pond. what we will see being done is the banks who will show the biggest commitment to them in terms of blending will be the ones who get the bond mandate as well. they will be playing that relationship card on the banks. it will be encouraging people to get the saudis more money. we will see them in the bond market again in the next week or two. i wouldn't be surprised if we see saudi arabia printing up to a $10 billion trade. theef: let's widen out conversation. as you listen to some of the insights from matthew, where are you at with the saudi arabia 16 come play? charles: we still believe with emerging-market bonds, we believe there will be impacts. they look very interesting. you're saying the spread is not justified? it's be tighter, shouldn't it? the premiumy: yes is unjustified. there is still value in this b

. facebook -- as soon as tomorrow. probing the company. trump saudi arabia right now at the white house. the president calling them a goods.uyer of u.s. a deadline to avoid another government shutdown. we will hear from key goods. david: meeting at the white house with president in this hour from both sides of the aisle. ♪ trump, during a brief desk before the meeting, they're -- they have is at least -- between the countries. how is this meeting going on right now -- he came back with a $350 billion order. >> correct. this is essentially a two-part meeting. the private investment, more some lawmakers on capitol hill heard concerns for the missile defense systems. , and we an urgency notld note it will also just be political u.s. leaders but political business leaders including the likes of folks in the tech industry. for the second point with regards to iran, we heard this r quite some time. it is something that the secondh regards to iran, we heard this from the remarks in just the last hour, that it is something the president toyed could come as --ly i talked to people in the

crackdown in saudi arabia on businessmen and officials. >> a lot of people see the enthusiasm and drive, but change is controversial. -- an example is the stock market, saudi arabia should have been part of these indices 15 years ago. it is the largest stock market in the middle east. iny have been very slow making the legal and structural changes required to get into these indices and now things have been accelerated. a lot of things are being accelerated. the changes controversial and you have winners and losers -- the change is controversial and you have winners and losers. there was a high level of energy. there is a lot of change and it is controversial. vonnie: where is the line in the sand? everything is copacetic with the united states, a lot of positive talk. at the same time, there are underlying conflicts like nuclear aspirations, the war in yemen, israel and palestine. >> there are. the relationship with america is good, very solid. thatmuch on the same page saudi arabia is worried about foreign policy with iran. the crown prince is caring out -- carrying out a lot of

political organization. to make the kingdom geopolitically important. tracy: staying with saudi arabia and the u.k. foreign secretary praised the reform program last week, saying "it is bringing positive economic and social changes to the kingdom." the head of mina equity strategy has upgraded the country to overweight and is predicting a total return of 30% by mid-2019. i asked him whether all of that was predicated on saudi arabia winning inclusion to the msci emerging markets index. >> a lot of it is predicated on the msci upgrade, but there is also a very interesting thing and saudi arabia in that thinks -- and that the banks are the heavyweights and they are the most interest rising rates. there are definitely good reasons as well as fundamental reasons. tracy: the saudi banks story has been pretty amazing, particularly the flows going into some of those banks. what about headwinds for the saudi market? we just saw the oil minister saying the aramco ipo could be delayed until 2019. and that was supposed to be such an important event for the market, does that change anything, potential

in relation to yemen, and also need to see this, all new leaders of saudi arabia are reformers we are told and we should be pleased that in the future women will be able to drive in saudi arabia as they are in the rest of the world. other things need to be considered, what about the saudi arabian funding of jihadi groups in syria? isk: joining us for more anne-marie. can mohammed bin salman put those controversies in yemen and cutter and lebanon to one side and proved to be a reliable partner for the u.k.? >> good afternoon. he will try as he sits down with theresa may. this is so much of a business trip as the saudi crown prince mohammed bin salman looks to his vision of 2030 to diversify beyond oil and expand the economy. they are looking to try to bring more foreign investors into the 4% ofmarket, just foreigners invest in the local saudi stock exchange. he is trying to get support ahead of the ipo of their crown jewel. there are protesters outside the gates that are upset with his vision in london. throughout london, from heathrow yesterday, the entire way in was billboards ab

news and markets. the chairman of saudi arabia's kingdom holding, the first .nterview erik schatzker started by asking him about the secret deal he struck to end his incarceration after 83 days. erik: why were you in the ritz-carlton for so long? guest: you have to ask the government. i do not believe i along their it all. imagelways in negative but not all the time. sometimes they listened to me and they sometimes do not. interaction between mean on the government. i do not believe i should have been there yet i am there, i respect the government, except i supportsaid and saudi arabia. erik: what did the government want from you, did they make that clear? guest: i will not dwell in the discussion. erik: they must have wanted something. wast: i read what written. it was all rumors. erik: according to one report it was $6 billion. guest: all these are rumors that i will not dwell in the arrangement between me and the government. erik: did it cost you anything to leave? guest: i will not comment on the agreement between me and the government. erik: did you have to hand over any land or

excited about that, especially ahead of the upcoming msci for saudi arabia. how excited should we be? salman: we should see that as a big thing. nbd and qnb have proposed raising the foreign ownership limits. for slightly different reasons cases.works in both in qnb they were getting maxed out so they have taken it from .5% to 49% that should lead to a greater allocation on the msci emerging market index. analysts are predicting $700 billion of flow in there. emirates nbd was at 5% foreign ownership, it was one of the lowest levels and they probably should have raised that earlier. it needs to be approved by shareholders, but that could lead to another billion dollars. it all fits in as part of the plan off diversifying the investor base to a more global one as opposed to a recent one. that is all healthy trends, which leads plan us towards theg msci trend. could play devils advocate for one second, if you 63l up this chart, g #btv 59, it shows previous upgrades to msci emerging market status. i think we have uae in the top, then qatar and pakistan at the bottom. they happen in may 2

speak exclusively to the founder, ceo and chairman. yvonne: saudi arabia stock exchange just got emerging market status. this is bloomberg. ♪ betty: this is daybreak asia, i am betty liu in new york. yvonne: saudi arabia got second emerging market status from ftse . they could attract billions of dollars in investment and move the kingdom away from an oil dependence economy. there is still msci inclusion to come. let's speak to khalid al hussan. thank you for joining us. this is a big milestone. tell us what this means for saudi arabia and the region. khalid: thank you very much for having me. at the beginning, this is just a recognition by the international reformsnt community for the saudi stock exchange have taken in the past 18 months to address the requirements of opening the saudi stock exchange attractivenessre platform for international investors. are you confident msci will deliver a similar outlook in june? what are you doing to make that a reality? , weid: as we did with ftse worked with them and msci as well as international investors to achieve reforms. about they

to diversify saudi arabia away from oil investments. the technology industry presents an exciting opportunity and an opportunity for employment for his people. a lot of young people need jobs so he is eager to ink deals to bring these the u.s. tech companies over to saudi arabia. emily: what do we know about the kinds of deals in particular that he is looking for? olivia: we understand he is focused on getting some data centers in place. today for example, google inked a deal saying they would provide cloud services to saudi aramco. we also understand he is pushing amazon to put in cloud services there. he wants a more robust data services operation. we also understand he is pressuring tech companies to build offices in saudi arabia's capital. emily: talk to us about the controversies surrounding these deals because they don't come , without a little bit of baggage, especially given the dollar amounts we are talking about. olivia: it is interesting reporting this story because every company we reached out to said, no comments. they did not want to talk about it or engage on the ma

in what is going on in saudi arabia, and he can impress on the all that this is an economy in transition. where, if alle goes according to plan, you can pick up some pretty interesting returns on your investments going forward. francine: what does this all mean for the region? a stableregion need saudi aramco ipo to generate? justin: absolutely it does. see so many areas of tension and indeed problems that saudi arabia is currently grappling of geopolitics, because of the war going on in yemen. there was a rocket attack a couple of days ago on riyadh. the stability that iran is worrying about. obstacles, then risks to investor sentiment. it portrays and conveys the idea that this is the pace that is changing, and it is moving in the right direction. francine: justin, thank you so much, justin carrigan, our emerging markets editor in dubai. how important is this to the markets? richard windsor and paul donovan are still with us. does this include -- does the ftse russell change anything at all? i think it is important, whether it's a big impact of money flows, we have to wait a

partnerships with saudi arabia. london today hosting crown prince mohammed bin salman.emily thornberry is the u.k. foreign secretary. she joins us now from westminster. we will be talking about the saudi prince's visit, but first, let's talk about france. we stare down the battle of a global trade were. i am very worried about this and cash oncerned that -- concerned about that -- mark: is this the time then, for the u.k. to be going it alone post-brexit, trying to forge individual trade treaties with countries, like the united states. might not this be the best time to go it alone and forge that path. i think the best thing for us to do is to remain in the customs union. ifple overlook the fact that we leave the customs union we have to renegotiate all of the different customs deals that have been done between the european union and the rest of the world. we have to be negotiating all these difficult trade deals at a difficult time. >> when it comes to the customs union, the labour party put a servicesen it and the party. certainly in opportunity to disrupt the process when that amendmen

by hans humes. we talked to a number of countries, has saudi arabia's pitch succeeded? is this a good investment for international investors? hans: i think for investors like us, not so much. in post-2009 with dubai and the saudi has been running at a deficit and want to close with that the sales of remco on the exchange. it is a huge outreach effort and i think investors should look at this as a equity opportunity. the compression opportunities that bonds used to have -- but there is no distressed opportunities yet. will have to wait and see how the 2030 pivotal work and how they can change the economy. scarlet: i want to bring in the saudi arabia and minister again because he make comments about the remco ipo. >> the ipo is on track, as i said before. we are assisting international markets -- new york, london, obviously the radical market in saudi arabia. no decision has been made. scarlet: it seems this is being tracked that longer than it should be. what is the holdup? hans: it is a valuation issue. scarlet: they have a certain number in mind? hans: the valuation of oil around 70

is still saudi arabia, russia, iraq, and the u.s. is competing with iran in terms of numbers, volume in the market. david: fair point. longer-term here, brent prices have been 60 for a few months now. what is that doing to capex plans? more money to increase capacity over the next few years? fereidun: the most incredible thing is that the oil companies are making more money now than the price of oil in dollars. a little efficiency can go a long way. [laughter] and nowe huge capital, they need to do something with the money. they need to get back to shareholders or spend it. capital plans are being increased substantially, but i don't think it is going to go as crazy as last time. people are going to be very careful. most importantly, shale producers are holding back. they are not overdoing, as they did last time. demandjust more broadly, for oil, and this is a longer-term question, has largely been inelastic, except for periods of extremely expensive oil. with more pockets of the world moving toward renewables, electric cars, do you see the inelasticity of the price of oil br

: saudi arabia has told bloomberg there is no decision on where the listing of aramco will remain -- will take place. the kingdom is considering the merits of london, and hong kong. >> aramco is on track as i said before. we are assisting international markets. andyork, london, hong kong, [indiscernible] no decision has been made. bloombergt is your business flash. anna: a could become even more real as donald trump appears to announce tariffs on intellectual property. the president is considering the levy which could cause $50 billion of economic damage. a former official said if trump sends the order that is a declaration of trade war with china. the u.s. has a verdict that there is an issue with intellectual properties. be worst hit?ll >> this is a big announcement we under ip waiting for investigation. so far they are talking about 100 goods. it seems to under ip investigation. so far they are talking about 100 goods. it seems to indicate they are going for a swathe and the feeling is that will under ip investigation. so far they are talking about 100 goods. it seems to indica

face trial. he has been traveling around europe. oil climbed to a two-month high as saudi arabia intercepted ballistic missiles. the missiles were intercepted and other cities. if you would concerns that rising geopolitical risks could lead to supply disruptions in the oil-rich middle east. in russia, at least 37 people have died in a fire at a shopping center. the news agency quoted firefighters as saying 40 of the missing our children. the fire reportedly started on the top floor of the building and consumed an area of about 1500 square meters. local news, 24 hours a day, powered by more than 2700 and analyst in more than 120 countries. you can find more stories on the bloomberg at top . checking in on the markets in asia, we are down for a second consecutive session. .5%regional index off by after erasing all of 2018's gains. the nikkei closing lower by .4%. off session lows, but we have seen japan fit to close out its worst month. weakness coming through in the chinese players in late trade, particularly in shanghai. you can see the csi 300 down. the shanghai composite at a nine-mont

sales to saudi arabia as he hosts crown prince mohamed bin some. unknown barbara sarah this is al jazeera live from london also coming out of the u.n. calls for urgent taxes to the people of eastern syria drops of white phosphorus and shells children sheltering in a school. to russia with not very much love twenty three diplomats expelled by britain leave from moscow and the world's last the mail northern white rhino dies in kenya leaving only two females open subspecies. the crown prince of saudi arabia has been having a working lunch with u.s. president donald trump at the white house in an unusual photo opportunity trump used the visual aids a to show how much money and how many jobs arms the sales the saudi arabia were bringing in. we've become very good friends over a fairly short period of time i was in saudi arabia in may and we are bringing back hundreds of billions of dollars into the united states and we understand that and they understand that some of the things that have been approved in are currently under construction and will be delivered to saudi arabia very soon a

as much $39 billion. nod,d saudi arabia gets a rinse of dollars of conditional -- additional investment can outflow into the country. manus: a warm welcome to "bloomberg daybreak: europe." holding the line against volatility is the thing for the market. this is putting together volatility in the s&p de niro stoxx 50 and the msci. can see it is bleeding, it's creeping higher. as long as the s&p 500 holds that line, the 200 day moving average, that's when you want to brace yourself. this volatility can turn particularly ugly. like,lmost recession breaking the 2600 line to bleed the volatility back to pretty horrendous times. back in 2001 and you had the dot-com bubble. so that's 2001, when the u.s. volatility is erupting and others cometo the that's when you want to be concerned, according to the charts i read at the moment. at the moment the fed perhaps volatility. we are all over the globe today, all over the region. don mckenzie is in beijing to talk trade with the u.s. ambassador. anne-marie is in jerusalem, what an amazing backdrop. an interview to come with the bank of is

. media but his crown prince mohammed bin salma out of saudi arabia really a reform of. his father's call him a reformer even a revolutionary his critics say he's guilty of war crimes in yemen the thirty two year old crown prince of saudi arabia mohammed bin so model m.b.a.'s who claims he's cracking down on corruption and championing women's rights is currently touring the united states but is the real m.b.'s and is the kingdom of saudi arabia really on a path to reform and moderation joining me now to debate this jamal khashoggi a prominent saudi journalist and former royal family advisor currently self exile in washington d.c. who has said the crown prince is acting like putin and becoming saudi's own supremely leader and a supporter of m.p.'s who is executive director of the arabia foundation and author of the book the saudi kingdom between the jihadi hama and the iranian and phil thank you both for joining me on outfront jamal let me start with you you've compared your crown prince to putin to iran's supreme leader you said he's creating quote an interesting form of dictatorship how

charity is giving pakistan's lost children new chance and luck. are saudi arabia and the united arab emirates buying influence in the white house the saudi crown prince is reported to have boasted that he has donald trump's son in no it is pockets and leaked documents allege a major fundraiser for the president was off of business deals from the gulf to influence u.s. policy this is inside story. would . i welcome to the program i'm jane dokken while mohamed bin psalm on continues his two week tour of the united states the saudi crown prince is being accused of using classified intelligence from the u.s. president's daily briefing in his crackdown on dissent back home the into sicked online publication says the source was donald trump's son in law and senior advisor jared krishna he's reported to reveal the names of saudis disloyal to the crown prince and at least one of them may have been tortured cushion his legal team denies any such discussion his top secret clearance that allowed him to access the president's daily brief was taken away last month also in the spotlight and it bro

on facebook understand tell me a concert. are the winds of change blowing in saudi arabia new documentary film shows the battle of saudi when. in from all rights from their perspective. the race itself was. and there were only it was this crazy outer body drive. a silent revolution this film from saudi arabia tells the story of women women who have succeeded in breaking out of their roles as mothers daughters and wives in one of the world's most conservative muslim countries. it took us at least sixty five years to realize that the law does not forbid women not only from voting but also from running and getting appointed in the board of directors. was slightly modified last minute couldn't know i had met it destroyed. in berlin we meet the film's creators danielle ham ronnie and danny and. ten years ago they founded the company dancer productions in saudi arabia without a male guardian that was almost unthinkable now they have high hopes of the reforms in saudi arabia especially the lifting of the ban on cinemas. this is five years of finances that have gone into this film so

live tomorrow. saudi arabia has struggled to attract foreign investment. that could be about to change. is expectedmpiler to announce to the emerging market category today. all of this ahead of potential inclusion by msci in june. a lot is changing in the kingdom. justin carrigan, a global emerging markets editor. how big an impact is this likely to have? i was talking to the manager who said that the active ability is going as well. >> that is right. it probably won't have a huge impact in the initial status. of ais an interim decision minimum of six months before it really kicks in. over that. , you might get some active managers looking more and saudi arabia. the passive investment probably won't kick in until that initial six month. is over. you might see the action really starting. that is going to change the ownership structure. we have had the lady that runs the exchange talking about foreign direct ownership. i have heard 3 billion. i have heard people say 5 billion. this is about changing the structure and the flow of money. it will be fundamental to the ipo of norelco. >> tha

in london the british government has been accused of ignoring rights abuses in saudi arabia and yemen so what is behind this controversial trip this is inside story. hello welcome to the program i'm richelle carey the red carpet has been rolled out at buckingham palace and number ten downing street in london for saudi arabia's crown prince bahamas and salma the thirty two year old became heir to the throne after a palace crisis last june and sense then is continued his country's involvement in the war in yemen launched a blockade of qatar and began what his government calls an anti-corruption drive dozens of high profile princes and businessmen were arrested and held in a hotel accused of corruption the trip to the u.k. is the first since he took on this new role as crown prince u.k. relationship goes back a long way cloning operate and helped establish what was to become saudi arabia over a century ago there are extensive business ties with britain a major arms supplier to the kingdom report suggests that deals worth one hundred billion dollars could be signed during this visit