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tv   Business  Deutsche Welle  December 6, 2019 7:30am-7:46am CET

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chance the people. in steel. cars and. the storage of that defines are. 19 said to be illegal to do so since december 23rd. we waited and waited and when we saw right it was big saudi aramco i.p.a. raises more than $25000000000.00 making the company the most valuable in the world . elsewhere in the oil industry the opec group of oil exporting countries agrees to cut production. and emoji can be big business in china but the government is not always sharing in the fun. business i'm rob what's in berlin
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saudi aramco has completed the biggest share sale of all time its much awaited i.p.o. raise $25600000000.00 for just 1.5 percent of the saudi oil producer is the company at a total of $1.00 trillion dollars it's short of crown prince mohammed bin salmond's target of 2 trillion but nevertheless confirms the ranko as the most valuable company in the world. mainly relied on domestic and regional investors after there was limited interest from further afield. on that let's bring in ashutosh pun day we can understand bit more about this so $25600000000.00 seems like an enormous amount of money is it in this context. well not really if you as the saudi prince here remember he was definitely expecting to raise $100000000000.00 from this offering now is just a quarter of that and evaluation as you mentioned 2 trillion dollars it's 1.7
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trillion so definitely he would be a very happy man but if you asked the global traders they would say that it's over prized they are betting the valuation any anywhere between 1.3 to 1.5 trillion dollars so they definitely feel that the share is overpriced at this point of time they are citing reasons such as security concerns especially after that attack on iran go facilities in september and geopolitics in the region which is uncertain and also the fact that the bleak future for oil going forward training the shares that it doesn't start immediately which is a little bit unusual it's going to start later this month what can we expect from day one of trading rob is difficult to say though but the saudi authorities are definitely making all efforts to ensure that it's a blockbuster deb you. they're offering boehner shares today deal investor who are
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willing to hold on to the share for more than 6 months so that's definitely a great incentive but as you mentioned global traders feel that the shares are overpriced and they do not actually expect really a blockbuster debut at this point of time but you never know with these companies are we just seen as national champions everybody wants a buyer of that so probably that could change the dynamics a little. ashutosh stick with us because there's some other big oil news today the opec oil cartel has agreed to cut production but only by half a 1000000 barrels a day that's the equivalent of half a percent of global output members of the organization of the petroleum exporting countries along with russia agreed to the modest cuts at a meeting in vienna their aim is to boost prices has the global economy slows down the move is also an attempt to compensate for higher output from the united states
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and other producers outside of the cartel. let's go back to russia tosh on this so. what are we expecting from this cut is it going to make a difference. with anything but a done deal at this point of time still to be decided how the cuts are going to be distributed among those opec countries but let's. for now assume that the deal is reached and the further cuts come in place that's not going to have much impact on the supply remember the opec countries are already over complying with the targets that they lasted for themselves $1200000.00 barrels of oil or did they actually producing much less than what they're supposed to do in mainly by saudi arabia so it's 1st supplies concerned that's not going to have much effect in fact the $500000.00 barrels a day cut is only going to formalize what they have been doing so far and as far as
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the oil prices are concerned export soon expect much there either because at this point of time it's not so much about supply issues it's more to do with demand especially at a time when the economy is slowing down because of the global trade wars. the oil prices are not going to change much i mean if you see the gold prices have been reacting more to favorable news coming from a. discussion between us and china rather than the opec meeting. thank you very much ashutosh panday now since the end of last month air b.n. b. has been an official sponsor of the olympics that has infuriated paris the host city of the 2024 games the french hotels say ca sharon has threatened to stop working on the planning for the event to protest against what it considers an unfair competitor international implementing is trying to smooth things over paris
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is full of air b.n. b. apartments the city mayor says that increases housing market pressures to counter that she intends to hold a referendum giving parisians the chance to ban the room sharing platform from the city that's a dialogue for the international olympic committee it's just signed up air b.n. b. is a sponsor for the 2024 paris olympics and wants to put its athletes in air b.n. b. apartments which may now not be available. free. there are. steps in the. appropriate. we have also explained to you know that. agreement complimentary to. the whole for. hotels. turley's disagree it calls them that air b.n. b.
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should become an olympic games sponsor yes you're obviously not happy with this partnership it's normal for a b. and b. like booking dot com to invest millions of euros per year that's something we just can't compete with. with a bit of luck the olympic spirit will find a way to bring the 2 sides together in the city of love. now to some of the other global business stories making the news right hailing company says it's received over $3000.00 reports of sexual assaults in the united states last year the figure is contained in a report aimed at addressing concerns about safety at the company all of the incidents recorded around half of the victims were drivers a lobbying watchdog is accusing monsanto of secretly financing 2 studies by a german university both concluded that the company's pesticide life is 8 was very important for farming on santo now owned by german chemicals giant says it had no
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influence on the study's findings. and is off. after an initial hiccup space x. has launched its falcon 9 rocket it's destined for the international space station the cargo is rather unusual on board a 40 genetically modified mice as well as christmas presents and fresh fruit for the lab's 6 member crew. now the european commission is taking action to tackle what it sees as dirty money a new e.u. wider thora he will coordinate efforts across the block to deal with money laundering more efficiently and introduced strict regulations there's plenty of evidence that new measures are urgently needed. denmark's danske a bank and it's now a shuttered estonian subsidiary are alleged to have laundered illicit funds for years on end some $200000000.00 euros making it the biggest money laundering
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scandal in e.u. history it involves some 6200 suspects russian clients. number of money. you. make. currency you money laundering regulations have had very little bite so far now you finance ministers and the european commission want to harmonize regulations across the block improve communications and set up a common anti money laundering or. right now supervision is patchy at best. being to get people who want to launder money look for those european member states where regulation is weakest and they go there to carry out their activities that's a real problem it. does make. a lot of money laundering goes on in germany as well through gold purchases or casinos and real estate is also a good repository for illicit money. it means laundering money by using illicitly
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accumulated funds to buy real estate it has very negative effects real estate prices and in direct reports upward pressure on rents and in that sense it has really caused a lot of damage that analysts say that suspicious money transactions are really reported estimates say $100000000.00 euros a year a laundered through german channels alone the total for the anti e.u. must be substantially higher now i'm a g.'s gifts and online stickers have turned into a kind of digital language and if you can create the right emoji you might be able to turn a profit on it that's at least the case in china but there is an internal copy at the where the census. nice silly piggy. this little creature goes through a range of emotions from pure joy to utter frustration at the drudgery of a boring office job silly piggy's antics have struck a chord when it 1st appeared in china's popular we chat up user sent it more than
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30000000 times in a month seeing its emotional range as an ideal way to express their own feelings in text message form. based on it's so cute and it reflects how young office workers feel inside me even though it's grumbling that can still express that in a really lively and vivid way with a new situation. for the creator river e it's been a godsend she came up with the character was working in what she regarded as adult office job now the artist runs her own studio and signs autographs for fans. in a country of 850000000 mobile internet users reverse creative doodling has proven lucrative. place feel really happy time until. some friends feel proud of me when people they know share my stickers. i did a 1000 ballots and they tell them i know the person who made those and they feel
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proud it. it's really flattering and it makes me very happy. inside this. river has enjoyed been able to make money from her art she will need to be careful though in order for silly piggy to stay online it needs to abide by some strict chinese censorship laws once when chinese president xi jinping was compared to winnie the pooh the currently bear was suddenly no longer available for download. again. that's all from us.
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what secrets lie behind. discover new adventures in 360 degree. and explore fascinating world heritage sites. world heritage 360 maps now. in the. climate change. summit the city 6.
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years today and the future of. the dot com click on. the making. click turn. dot. com. video to joy from by night symphony one of the most recognizable face of music in the well. a lot more in the next 12 months as 2020 is the 250th anniversary of his birth and will be celebrated in a big way throughout the year in his home town of bomb also coming up today. we
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have an exclusive interview with one of the great german film directors found a hat so will receive a lifetime achievement award at the european film awards this week. but we begin with 2020 which was launched in the western german city bomb on wednesday in advance of a spectacular year of concerts exhibitions on the events all about one of the greatest classical composers of all time. was beethoven's birthplace and where he spent the 1st 20 years of his life now d.w. is heavily involved in the celebrations i'll be talking about that after the launch of the special d.w. classical music you tube channel with my colleague aging kennedy after this. it's not wrong road it's.

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