yes the people of britain steel girder. cars. is the story of an era that defines overmanaged. 19 said the big commutative it since december 23rd. the goal is to trillion dollar saudi aramco shares make their stock market debt you off to a record breaking initial public offering that gave the company and valuation of $1.00 trillion dollars will the 2 trillion mark be reached today. also coming up it's a moment of crisis for global trade as u.s. pressure hollowed out the world trade organizations top quartile is going to settle trade disputes from now on. i'm going to get jones and this is g.w.

business live from berlin welcome saudi arabia state oil company saudi aramco has officially begun trading on its domestic stock market it's already the most valuable publicly listed company in the world however that is not enough for the kingdom which remains determined for saudi aramco to top the 2 trillion mach and 6 have gone well so far in the 1st morning of trading. this is what it looks like to launch the world's most valuable company on the stock exchange for the 1st time. thanks saudi aramco pride and joy of the saudi arabian royal family and kingdom has gone public it made its long awaited market day view in riyadh on wednesday to march fanfare. and early pre-treating the shares hit $9.39 each that's a 10 percent jump from the starting price enough to hit the regulatory cap on daily

increases or decreases for the stock that pushes the company's value up to one point trillion dollars the kingdom wants a 2 trillion dollar valuation since the sale of $25600000000.00 worth of shares last week it has been encouraging all and sundry in saudi arabia to buy up as much stock as possible to. get on with that. today the kingdom of saudi arabia is no longer the only shareholder of the company a lot. more than 5000000 shareholders have joined including citizens and residents in this kingdom and other c.c.c. countries in addition to saudi regional and international investment institutions this is a day when everyone in saudi aramco and in the kingdom can be immensely proud. while today is one of glitz and glamor for the country the listing of aramco is a reflection of the kingdom's need to diversify its economy away from oil

dependence nonetheless the company may well hit its desired 2 trillion dollar target in the days ahead. move over w t l and let the big and powerful in particular the united states decide how global trade should be handled that's basically what lies in store now for the world trade organization after a success if u.s. administrations have blocked the appointment of new judges to the body's appeals court critics fear world trade is now facing the law of the jungle. the world trade organization is facing its biggest crisis since it was founded a quarter century ago director general roberto as of $80.00 had hoped to resolve the impasse but instead the organisation can no longer deliver rulings on trade disputes because washington has blocked the appointment of new judges to its appellate panel the panel was made up of 7 judges for whose terms have expired

have not been replaced because the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court will no longer be able to issue rulings. as a result there will no longer be an independent body to intervene in trade conflicts the stronger side will probably prevail. roberto azevedo wants to turn the crisis into an opportunity. on tuesday he insisted the w t o had to be reformed without this sense of crisis there would probably be an accommodation and members would not be saw very inclined to change things and to change the system make the system more responsive to the changes that we see out there now one example is the treatment of china which is given preferential status as

a developing country many analysts not just the us say that's wrong. the dealings between the w t o and china are sometimes still affected by rules that came into place a while ago when china was a smaller country the u.s. basically warns china to play by different rules now international trade has to cope with even more uncertainty instead of the w t o playing the role of empire washington will be able to get its way. and out to some of the other global business stories making news. a massive public sector strike is continuing in france over the government's proposed pension reforms french president emmanuel mack was due to publish and finalize the plans today hundreds of thousands of french workers have marched in opposition to the plans the past week. h.s.b.c. set to pay almost $200000000.00 euros in fines in the united states the bank's

private banking unit confessed to helping u.s. citizens evade federal taxes for over a decade his b.c. is just one of numerous face banks slapped with large penalties over tax evasion charges and recently as. since taking power in 2018 ethiopian prime minister ahmed has implemented sweeping political reforms that have won him praise and the nobel peace prize which he collected on tuesday is the o.p.'s economy is also going from strength to strength but a lot remains to be done because foreign investors many attracted to ethiopia by the incredibly cheap wages companies say they aren't breaking the law and support efforts for a minimum living wage in the country but in the meantime despite setting up shiny new tech stuff factories they are profiting from very low wages some workers and as little as one europe a day. the ethiopian economy is booming and with this the

country's textile industry industrial parks both flagship factories their clean and well lists but i think it's really as good as they look one of the big pulls for foreign companies are the low wages in bangladesh the minimum wage is around $85.00 euros per month while in ethiopia it's just $23.00 euros. is that enough to live on back in june german television reported on the lives of textile workers here. is accompanied them to their homes tiny huts in a slum. the women wanted to remain anonymous. they worked in 2 different factories making clothes for h. and m. among others then a week ago we visited the women again and asked of anything had changed. as you do

now i was earning 23 year 00 per month as my basic wage and 6 euros on top because of my extra skills then they said they'd raise my salary but they just added it together i now and $29.00 euros is a basic wage but nothing for my extra skills nothing has changed. the women have moved hearts and now have a batch they still rely on their parents to get by a friend has been promoted an hour and $55.00 euros a month it's still not enough. i was hoping my life would change but since i started at the factory 4 years ago things have stayed the same it's tough. we also spoke to each and now they confirm to that the lowest monthly wage is $26.00 around $23.00 euros we agree that wages are too low it is our vision that every textile worker should earn a living wage they set we're supporting a study into what a legal minimum wage could be one woman says there's been one positive development

. they've changed one thing over time is now voluntary students can now attend their courses at university that's why. there's not much else to celebrate though seems to says and activists tell us that the work is pressurised and intimidation and insults are commonplace so any theo p.s. textile sector there's still much room for improvement. margaret is currently at the center of the un climate talks as host of the cop 25 conference on issues government officials like to emphasise spain's further gauge moment in the battle against global warming and the country's continuing political deadlock hampering efforts to effectively deal with climate change at home. for months one month old iran has been feeding his sheep

a. because the area of land where they should be grazing on fresh grass now looks like this the problem is that we've been suffering from drought began last year that's why i have to give my animals a already made feed. he took up sheep farming after the economic crisis forced him to abandon his job in construction but now agriculture too is proving unsustainable this time it's drives that's threatening his livelihood he reckons he'll be able to survive for another year or so. i spend 50 to 60 year olds on sheep every day that goes on the corn and hey he really is a luxury item. in the summer it cost me a euro $4150.00 now it's more like 3 euros.

drought stricken fields and dried out lakes in an ordinary year you'd record or rain 600 liters of rain per square metre this year it's around 70 this issue ation is very different on the coast where greenhouses dominate the landscape strawberries are big business here environmental activist philippe fuentes us says the cause of the drives isn't just climate change. the lack of water and the steadily decreasing rainfall at this time of year our science of climate change on top of that the authorities aren't doing their jobs and the water is being used illegally. environmentalist say the scope of the problem is enormous but the laws have been ignored and the whole world knew about it this applies to some 2000 hectares. berries play an important economic role here but in the long term the lack of water could become

a major problem some fruit farmers are already causing to and on their water usage when we thought we can keep water and fresh lies in use by 20 percent. meanwhile sheep farmer one man you are wrong is hoping for rain if it doesn't come soon he may have to pack it in and begin afresh all over again. and that's your business update at this hour here on t.w. from either team villain.

what secrets lie behind. discover new adventures in 360 degree. and explore fascinating world heritage sites. world heritage 360 to get maps now. i was fishing when i arrived here i slept with people in a room. it was hard i was fair. i even got white hairs and.

the german language not off. me and little. to interrupt the flavor you want to know their story. writing and for a lot of information for margaret. hello welcome to news from the world of arts and culture where the biggest documentary film festival in russia with a controversial d.w. satirical show also coming up. an interview with the author of the book crazy rich asians which was turned into a film i'm surprised at the box office. i'm following in the footsteps of rembrandt in this year the 350th anniversary have his death.

this year a well known documentary film festival in moscow called the doc festival is playing . nick animated satirical show the pokes fun of russia's leaders amongst others and is co-produced by d.w. the organizers say they are taking a risk by showing the film but with censorship on the rise in russia that is a risk they feel they have to take our correspondent and show him small. thank you . but it wasn't us facing to world leaders including lighting the are putting an ironic theme song for russian politics sung by foreign ministry and kremlin representatives we must tell you nothing and no one in current affairs of state the market days of stuff like. the end.