The week began with the news that 11 princes had been arrested in saudi arabia for staging a sit in. The royal family members were protesting the governments decision to stop paying their electricity and water bills. Tracy alloway got reaction and more on the story. We dont know a lot of details about this. What we know from reports, as you said, they are protesting payment of utility bills. What clearly shows, it shows there is rising discontent within the ruling family after that crackdown. Obviously, there is grumbling. What happened is that, according to the reports, the king decided to take action, swift action. The report says they were sent to prison, not to the ritz. There was harsher treatment. The lack of details, the main thing it shows is that there is more discontent within the royal family. Are we going to see more of this . That is a question to follow. Tracy there is another story taking place in saudi arabia right now. The authorities saying they will spend billions to
More than a threeyear high as u. S. Stockpiles plunge. Why are rising prices worrying the Iranian Oil Minister . The week began with the news that 11 princes had been arrested in saudi arabia for staging a sit in outside a palace in riyadh. The royal family members were protesting the governments decision to stop paying their electricity and water bills. Tracy alloway got reaction and more on the story from bloomberg managing editor for the middle east. We dont know a lot of details about this. What we know from reports, as you said, they are protesting payment of utility bills. What clearly shows it shows that there is rising discontent within the ruling family after that crackdown. Obviously, there is grumbling. What happened is that, according to the reports, the king decided to take action, swift action. The report says they were sent to prison, not to the ritz. So there was even harsher treatment. But again, because of lack of details, the main thing it shows is that there is more
Will dump the iran nuclear deal. Some in his administration disagree. Extern editor what to expect from the saudi kings visit to moscow. It shows the extent to which russia has succeeded in inserting itself in the middle east. Role inmuch broader building relationships with the saudis. For the saudis, it is crucial. They are seeing the russians as a diversification effort, not the full reliance on u. S. Power. No one is saying the relationship with the u. S. Is bad, but they are looking for other allies, other relationships to build to protect their own interests. Yousef weve seen big energy deals coming out of this. Can we expect tangible results in terms of Foreign Policy . Will they have measured results in key areas . Syria is the big one. I think what they are looking for from the russians on that is help limiting iranian power. I dont think the saudis are expecting the russians will suddenly come out and say they support the saudi line on this and do everything we can to limit ir
Some in his administration disagree. Our executive editor joins us about what to expect from the saudi kings visit to moscow. It shows the extent to which russia has succeeded in inserting itself in the middle east. Also, a much broader role in building relationships with the saudis. For the saudis, it is crucial. They are seeing the russians as a diversification effort, not the full reliance on u. S. Power. No one is saying the relationship with the u. S. Is bad, but they are looking for other allies, other relationships to build to protect their own interests. Yousef weve seen big energy deals coming out of this. Can we expect tangible results in terms of Foreign Policy . Will they have measured results in key areas . Syria is the big one. I think what they are looking for from the russians on that is help limiting iranian power. I dont think the saudis are expecting the russians will suddenly come out and say they support the saudi line on this and do everything we can to limit iran
We will break it down with all of the details. It is it 00 a. M. In dubai. 5 00 a. M. In london and midday in hong kong. You are watching bloombergrg markets middle east. What a genetic finale to the week with strong earnings coming out from amazon. Not just setting the tone for next week, but helping a lot of key benchmark industries in the u. S. Let me run you through the numbers. Nasdaq 100 is a record on its biggest gain since march of last year. We had the s p 500 hitting a new high after the u. S. Gdp numbers came in stronger than expected. Strongest executive orders in three years. It was not all rosy. Ge still under pressure, down 13 for the last week. Strong gains for nasdaq up 2. 2 percent. In terms of where we are with u. S. Tenure paper, speculation continues on who will be the next fed chair. Treasury yield falling. They are at 2. 41 . And showss the board you other key Asset Classes that have been on the move as of friday closes. Brent topping 60 a barrel for the First Ti