Business in china but the government is not always sharing in the fun. Welcome to g. W. Business in bed. Saudi aramco has completed the biggest share sale of all time its much awaited i. P. O. Race 25600000000. 00 for just 1. 5 percent of the saudi oil producer that values the company as a total of 1. 00 trillion dollars its short of crown Prince Mohammed bin sounds targeted 2 trillion but still confirms around co as the most valuable company in the world. Mainly relied on domestic and regional investors after a limited interest from further afield well only on that lets bring in ashutosh pun day we can understand more about this or 25600000000. 00 seems like an enormous amount of money is it in this context but not really if you as the saudi prince here remember us definitely expecting to raise 100000000000. 00 from this offering now its just a quarter of that and evaluation as you mentioned 2 trillion dollars its 1. 00 trillion so definitely he would be a very happy man but if you asked the Global Traders they would see that its over priced they are betting the valuation any anywhere between 1. 00 to 1. 00 trillion dollars so they definitely feel that the share is overpriced at this point of time they are citing the region such as security concerns especially after that attack on earth are around go for cities in september and geopolitics in the region which is uncertain and also the fact that the bleak future for oil Going Forward training of the shares that it doesnt start immediately which is a little bit unusual its going to start later this month what can we expect from day one of trading. Rob is difficult to see though but the saudi authorities are definitely making all efforts to ensure that its a blockbuster deb you. Theyre offering bonus shares today deal investors are who are willing to hold on to the share for more than 6 months so thats definitely a good incentive but as i mentioned the 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 we just seen as National Champions everybody wants a buy of that so probably that could change the dynamics a little. Ashutosh stick with us because theres some other big oil news today at the opec oil cartel has agreed to cut production but only by half a 1000000 barrels a day thats 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 cut 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 and other producers outside of the cartel. Lets go back to russia tosh on this so. What are we expecting from this cut is it going to make a difference. Its 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 lets. For now assume that the deal is reached and the further cuts come in place thats not going to have much impact on the supply remember the opec plus countries are already over complying with the targets that they last set for themselves 1200000. 00 barrels of oil per did actually producing much less than what theyre supposed to do been mainly by saudi arabia so i thought supplies concerned thats 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 the oil prices are concerned experts do in expect much of a dare either because at this point of time its not so much about supply issues its more to do with demand especially at a time when they go in the me 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. How safe all right sharing. This week several women in the us against lift of a Sexual Assaults in cars affiliated with the company now a rival has revealed how many reports of Sexual Assaults received in the u. S. In recent years and this in the thousands. Who by its report made for some sobering reading there were more than 3000 Sexual Assaults recorded last year 235 of them were of rape this out of a total of 1200000000 journeys 99. 9 percent of which was keen to point out and did without it recorded incident the report which covers 20172018 is the 1st of its kind and comes just 2 weeks after it lost its license to operate in london after drivers using the app were fine to have fakes their identity and its not just super either rifle lift is also facing pressure over its Safety Record earlier this week 19 women filed lawsuits in San Francisco related to Sexual Assault or rape that happened in vehicles affiliated with the company. Whose hands. Had woken up to him actually groping. Both lift and increased screening and background checks for drivers. Lift has also pledged to release the safety reports of its own but x. Brits say Sexual Assaults often go under reported and not the problem could be far larger in scale than the figures suggest. Next surprise for the German EconomyIndustrial Production fell sharply in october total factory outputs in europes biggest economy fell by 1. 7 percent compared to the previous month but came with a list expecting a rais point one percent and it was down by 5. 3 percent year on year again more sharply than anticipated. So lets get more on this from the delaney in frankfurt chelsea this will have stoned investors its if we have bit of a punch to the got for for the German Economy a lot of the narrative of the past month in particular has been that the german industry and sector which has been mired in this and this recession over the past several months was actually rebounding had found its footing it doesnt appear that thats the case here there was this data today which as you said was a lot worse than expected but there was also a report yesterday showing that Industrial Orders had also declined so theres a lot of science that the economy is actually not rebounding as people had hoped for at this point thats not having a huge reaction and the markets. Stocks are pretty pretty they havent really reacted much to it but its certainly going to going to be a concern for investors from here what about the size of this drop in the fortys 1. 7 percent particularly worrying. Its a steep drop and as you said its expectations were for actually an encrease so thats always a bit jarring especially if you look at the year over year decline 5. 3 percent thats the largest decline in 10 years so these are significant numbers and. For the for the longer term you know germany is already really close to stagnation they just avoided a technical recession but the expectations are basically for no growth for the 4th quarter that could really be thrown into question if this industrial strength slump continues to go on so a lot of the talk today on the Trading Floor and among economists is that you know germany may be heading for a recession again the bubble has burst of it hasnt it to do is chose to delay me and frank thank you very much now to some of the other Global Business stories making the news china says its holding off on an increase in tires on u. S. Pulque imports its also waiving a hike on levies to soybeans while negotiations between the 2 countries continue trying to finalize a phase one trade deal 1st announced back in october. And its lift off after an initial pick up space x. Has launched its falcon 9 rocket its destined for the International Space station the cargo is rather unusual on board a 40 genetically modified mice as well as christmas presents under fresh fruit for the labs 6 crew members. Now emoji these gifts and online stickers have turned into a kind of digital language if you can create the right emoji you might be a whats it to a profit thats at least the case in china but there is a cafe at the where the census. Nice silly piggy. This little creature goes through a range of emotions from pure joy to over frustration at the drudgery of a Boring Office job silly piggys antics have struck a chord when it 1st appeared in chinas popular we chat up user sent it more than 30000000 times in a month seeing its emotional range as an ideal way to express their own feelings in text message form. With this one its so cute and it reflects how young Office Workers feel inside even though its grumbling it can still express that in a really lively and vivid way with an illegal search engine. For the creator river e its been a godsend she came up with the character was working and what she regarded as a dull office job now the artist runs her own studio and signs autographs for fans. In a country of 850000000 mobile Internet Users rivers creative doodling has proven lucrative. Place feel really happy coming to. Some friends feel proud of me when people they know share my stickers. I do the best and volatile they tell them i know the person who made those and they feel fresh it. Its really flattering and it makes me very happy. To have notes on the. River has enjoyed been able to make money from her art she will need to be careful though in order for silly picky to stay on line it needs to abide by some Strict Chinese censorship laws once when chinese president xi jinping was compared to winnie the pooh the kodaly bear was suddenly no longer available for download. Again. And thats all from me in the Business Team here in berlin you can find more from us that have left sites need to be dot com slash business by. The big. Historical politics business the big run up evil of the islamic maghreb. Making its initial flirtation was a strong states of emergency about 6 into chaos the trauma of the circumstances. Hence the peace. Threatens to older model cars. Stores an era that defines a modest. 19 sim in the basement steps to symmetry her. Laugh. Out loud. Laughter. Oh to joy from his 9th symphony one of the most recognizable pieces of music in the world. Were going to hear 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 hometown of ball also coming up today we have an exclusive interview with one of the great german film director. Who receive a Lifetime Achievement award at the european film awards this week a. Box we begin with beethoven 2020 which was launched in the western german city bomb all mines day in advance of a spectacular year of concert exhibitions on the events all about one of the greatest classical composers of all time was beethovens birthplace and where he spent the 1st 20 years of his life now d. W. Is heavily involved in the celebrations ill be talking about that and the launch of a special d. W. Classical music you tube channel with my colleague aging kennedy off to this