ºìÌÒÊÓƵ Blog Archive June 2016

As the popularity of online shopping grows in , , , and , e-commerce companies are predicted to spend about $6 to $8 billion in investments toward logistics, infrastructure, and warehousing over the next few years. E-commerce as a whole is growing exponentially, with the retail industry being the main contributor. The need for air cargo connectivity is expected to increase as tier two and tier three cities pick up business and the supply chain becomes more complex. Specific retail companies are also working to ensure that they can account for the highest amount of revenue in terms of e-commerce.

Innovation is crucial in the business world, and as companies and businesses grow larger, they often find new ideas. Bigger companies are usually less mobile, and quick changes to operations and strategy become much harder to implement after initial success. For companies looking to break this mold, empowering upper level management is very important, in order to enact the changes needed to push the business culture toward innovation.

On Wednesday, President Barack Obama,  Prime Minister Justin Trudeau, and  President Enrique Peña Nieto will . The meeting, commonly referred to as the Three Amigos Summit, has gathered almost every year since 2005 to discuss strategic cooperation and important economic issues. This year's meeting in particular will prove to be of high significance. The primary objective of the 2016 Summit is to develop clean power plans for each country in the continued combat against climate change. However, recent political developments may cast a shadow over this year's talks.

It is well known that entrepreneurship has been declining over the last few decades, but what is the real cause behind it? There are many different theories, from schooling systems, religion, student debt, economic hardships, a change in attitudes, and a more talk, less action society.

The (UN) is an international organization made up of over 193 Member States. Founded in 1945, the UN deals with global issues relating to climate change, sustainable development, human rights, terrorism, etc.

The Prime Minister Narendra Modi recently operating in the country. The announcement comes just days after the  and has been seen as an attempt at reassuring international markets.

has become what Huffington Post refers to as, , and has remained one of the top manufacturing countries in the world. However, the Chinese economy is undergoing a drastic change, transforming  based economy. By switching to services, will be spread across the globe, and the question rises as to where these jobs are going to be relocated.

Reassessments on the likelihood of the leaving the has caused a spike in the pound against the dollar. On Monday, the pound was valued at —a rise of more than 3 cents—marking the largest one-day gain since 2009.

The is a political and economic union consisting of 28 European countries. Originally created in 1958 under the name European Economic Community (EEC), the group of countries strictly began as an economic union. However, over time, the EEC started expanding its work into political matters across Europe and, in 1993, the European Economic Community developed into the European Union. , one of the countries in the , is now debating on withdrawing its membership, known as a Brexit, and parting ways with the other European Union countries.

is a relatively small but prosperous country which is a part of the Scandinavian countries in the Northern part of Europe. The country itself has about 10 million people (roughly the same as the State of Michigan) and an area size similar to the State of California. While Sweden is a unique, wealthy, and equal opportunity country, it is seldom one of the first countries that people think of or plan to go to when they visit Europe. Now, Sweden wants to change that.

A big topic in finance, and more specifically tax, is base erosion and profit shifting (BEPS). The The goal is to eliminate incidences of tax avoidance around the world once BEPS is implemented. The OECD, G20, and the are currently working together to recommend and propose policies to take place under BEPS.

The is another sign that things are not looking good for the upcoming Summer Olympic Games in Rio de Janeiro, . From political corruption to a spreading virus, the Olympic Games are facing some serious challenges.

The (GCC) countries have come together to reach an agreement regarding implementing the VAT (Value Added Tax) system by the end of 2018. This agreement may come as a surprise to many people, since the GCC region was known for its tax-free perks and massive income from oil. However, the circumstances now prove to be otherwise. The plunge of oil prices since last year has immensely reduced government revenues, making it a necessity for the GCC countries to find new sources of revenue and diversify their portfolio.

is home to the largest oil reserves in the world. However, the vast amount of exports could not save Venezuela from the economic crisis it is now experiencing. The International Monetary Fund has predicted that the overall , and the inflation rate will rise by .  Economic turmoil has caused extensive damage to the country, and Venezuela is in need of change to help save the country from economic collapse.

Most of us will spend large portions of our lives working, at businesses and companies producing many different goods or services. Attitudes about the workplace, work-life balance, and business can change drastically, depending on where you are and who you are talking to. One factor that accounts for many of these differences is age, especially comparing the so called millennial generation to its predecessors. Globally, millennials about the workplace than older generations, generally being more open to new opportunities, expecting flexibility, and hoping for a more engaging work experience.

On Sunday, issued a announcing they had just signed an agreement with the . The agreement signifies cooperation between NASA and the UAE Space Agency in aeronautics research, space exploration, and the peaceful use and habitation of outer space. Other objectives covered by the agreement include collaboration in Earth and space science research, the establishment of educational programs, and outreach to relate the global benefits of space travel. Possible future cooperative projects include the joint use of certain airspace technologies, ground-based research facilities, and antennas. Above all, the agreement seeks to strengthen the diplomatic and economic relationships between the and the United Arab Emirates.

There are many reasons that entrepreneurs choose to move their businesses across the world. Whether it be cost savings, favorable market conditions, geographic advantage, risk diversification, or competiveness, doing business in locations across the globe can prove to be extremely beneficial. Ultimately, this decision depends greatly on the specific needs of a business, which can sometimes be volatile. Here are five locations that are currently favorable for those looking to move their business abroad. 

Economists and governments have predominantly been talking about bringing the ancient Silk Road back into the world of trade. Although the Silk Road dates back to 300 BC, it has had a lasting significant impact on stimulating the cities that laid along its trail. This has influenced to bring the Silk Road back in order to enhance global business. As a result, .

Following the loss of over $90 million from two banks, officials around the world on an integral part of the day to day operations in the international banking industry. The Swift network was created as a message system for banks to authenticate the transfer of money between accounts internationally. Hackers were able to infiltrate the networks of central bank in February and subsequently used Swift to from the central bank’s account with the New York Federal Reserve. A second attack on a bank in netted the attackers an additional $12 million. The ability to hack Swift has prompted calls for reforms in the international banking industry, along with increased security measures among banks worldwide.

The recent Takata airbag recall is the largest in  history with over sixty million recalls. This recall affects numerous car companies, including Toyota, Tesla, BMW, Ford, and Honda, among others. Cars manufactured within the last fifteen years are at risk, therefore, approximately . With demand for new airbags skyrocketing and supply devastatingly low, drivers are left wondering what to do next.

We have already discussed some of the potential negative effects of , specifically on employment throughout the entire EU. The possible adverse consequences were highlighted again by the U.S. Federal Reserve chairwoman Janet Yellen and the Organization for Economic Co-operation and Development (OECD).

Have you visited the recently? The Business Beat, hosted by Tomas Hult, is a great way learn about current topics related to international business and covers a wide variety of interesting topics. The latest topics include globalization in the Greater Lansing area, infrastructure development, Vector Marketing, and entrepreneurship. Check out the page today!

On Wednesday, June 1, 2016, Uber gained $3.5 billion from , the largest cash infusion ever made in a private company. Venture capital investing has been growing in the Middle East where countries such as Turkey, Egypt and Saudi Arabia are turning to transportation companies, .

Wildfires in have halted oil production, causing oil to drop for the , making this the longest stretch of declining oil in over a month. were halted due to the continuous wildfires over the course of May. has taken many shifts in directions, which has caused these fires to be more difficult to contain. However, stated on May 20th that conditions were improving and mandatory evacuations orders for seven oil-sands worker camps have been lifted, and operations are underway again.

It has been in the news a lot, many countries trying to increase bilateral trade, but it seems that is one country taking the initiative to a higher level. Russia has a goal of increasing its bilateral trade with , , and .

Three years ago, popular global brands such as H&M, Walmart, and Gap pledged to improve safety conditions in factories overseas following a multitude of deaths due to poor labor conditions. Despite the time frame, many human rights groups believe that these promises have not been kept, and more progress is needed. Safety in working environments in Bangladesh remains poor, while .