Please see the events that are impacting international business for this week. Please feel free to comment:
1. In November, Saudi Arabia announced that an IPO (Initial Public Offering) of Aramco would become public. Aramco is the most profitable company in the world. Its initial IPO will be the largest of all times and will be larger than Apple. An IPO simply means that other investors and individuals can now purchase stock in Aramco. It is available for public stock trading. It has gained 10% in its first minutes on the stock market with a value of up to $1.88 trillion. This is more than $25 billion raised by China’s Alibaba in 2014.
2. Prime Minister Boris Johnson (United Kingdom) was elected as the Prime Minister via votes last week. People in the UK have been divided over the 2016 Brexit referendum. He has pledged to get Brexit accomplished. Many communities in Britain voted to leave the European Union and PM Johnson hopes to assist in making this occur.
3. China is cautious in the deal trade with the United States. Experts in China believe that the deal would reduce uncertainty for companies in the short term. Both the United States and China will have to compromise in order to make the deal work for both sides involved. The willingness to work together will be the foundation needed in order for future tariff reductions and trade talks. China and the United States announced Phase I of the trade agreements Friday. This agreement states that the United States will reduce the tariffs levied and China will buy more farm products from the U.S. Other aspects of the trade agreement will have to undergo legal and translation review before signing. These include intellectual property, technology transfer, financial services, and any dispute settlements.
How do you think these events will impact international business?
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