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140-651: Eurasian Natural Resources Corporation PLC ( ENRC ) was a public, Kazakhstan/Central African-focused, multinational leading diversified natural resources company headquartered in London, United Kingdom. It had activities in integrated mining, processing, energy, logistics and marketing. ENRC was formed in 1994, listed on the London Stock Exchange in 2006, and delisted after a near six-year spell in November 2013. A secondary listing and subsequent de-listing also took place on

280-911: A League of Nations mandate over the previously German colony of Ruanda-Urundi . During World War II , the Belgian Congo provided a crucial source of income for the Belgian government in exile in London, and the Force Publique again participated in Allied campaigns in Africa . Belgian Congolese forces under the command of Belgian officers notably fought against the Italian colonial army in Ethiopia in Asosa , Bortaï and Saïo under Major-General Auguste-Eduard Gilliaert . In May 1960,

420-410: A kleptocracy as Mobutu and his associates embezzled government funds. In a campaign to identify himself with African nationalism, starting on 1 June 1966, Mobutu renamed the nation's cities: Léopoldville became Kinshasa (the country was known as Congo-Kinshasa), Stanleyville became Kisangani , Elisabethville became Lubumbashi , and Coquilhatville became Mbandaka . In 1971, Mobutu renamed the country

560-510: A "multi-billion dollar copper and cobalt tailings reprocessing facility" that had been expropriated in 2009 by the DRC from Vancouver, Canada-based First Quantum Minerals through Dan Gertler 's newly formed British Virgin Island -based company, Highwinds , was the last of a series of ENRC of Congolese mining asset acquisitions in roughly an 11-month period. First Quantum Minerals had completed 75 per cent of

700-676: A 70% indirect interest in Metalkol Sarl, owner of the Kolwezi copper tailings project. In 2010 ENRC paid $ 175 million for its majority stake in Camrose. On 28 December 2012, 99 percent of Eurasian Natural Resources Corp shareholders approved the US$ 550 million purchase of the remaining 49.5% per cent of Camrose Resources Limited still held by Dan Gertler 's Gibraltar-registered (Wild et al. 2013 page 68) Fleurette Properties Ltd. In February 2010 ENRC purchased

840-597: A 70% interest in the Metalkol Sarl, which in turn owned the exploitation licence for the Kolwezi tailings site (Law Expert 2 March 2012)." Camrose's other assets included a "64% stake in Canada listed Africo Resources which held a 75% interest in Kalukundi exploitation licence as well as 56% indirect interest in Comide Sprl, which held the exploitation licence for Mashitu, Pangalume and Kii tenements." The Kolwezi tailings project ,

980-772: A 90% interest in Chambishi Metals PLC, a copper and cobalt producer and smelter located in Zambia. On 4 April 2008 Eurasian Natural Resources Corporation PLC finalized the purchase, first signed on 4 December 2007, of the controlling interest in Serov Ferrochrome Producer (Serov SPA) in Sverdlovsk region, eastern Russia for US$ 210 million from various entities affiliated with Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch, founding shareholders in ENRC. Sir David Cooksey ,

1120-557: A 90% interest in Chambishi Metals PLC, a smelting facility in Zambia, together with a 100% interest in Comit Resources FZE, a Dubai-based marketing and sales company that historically has handled Chambishi's copper and cobalt sales. In August 2010 company acquired 50.5% of Camrose Resources Limited ('Camrose'). Camrose held five high quality copper and cobalt mining permits in the Democratic Republic of Congo (DRC). They include

1260-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

1400-603: A campaign against Congolese ethnic Tutsis in eastern Zaire. A coalition of Rwandan and Ugandan armies invaded Zaire to overthrow the government of Mobutu, launching the First Congo War. The coalition allied with some opposition figures, led by Laurent-Désiré Kabila , becoming the Alliance of Democratic Forces for the Liberation of Congo . In 1997 Mobutu fled and Kabila marched into Kinshasa, naming himself as president and reverting

1540-757: A ceasefire, a plane crash near Ndola resulted in the death of Dag Hammarskjöld , the Secretary-General of the United Nations , along with all 15 passengers, setting off a succession crisis. Amidst widespread confusion and chaos, a temporary government was led by technicians (the Collège des commissaires généraux ). Katangan secession ended in January 1963 with the assistance of UN forces . Several short-lived governments of Joseph Ileo , Cyrille Adoula , and Moise Kapenda Tshombe took over in quick succession. Meanwhile, in

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1680-579: A consequence of exploitation and disease. In some areas the population declined dramatically – it has been estimated that sleeping sickness and smallpox killed nearly half the population in the areas surrounding the lower Congo River. News of the abuses began to circulate. In 1904, the British consul at Boma in the Congo, Roger Casement , was instructed by the British government to investigate. His report, called

1820-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1960-785: A fourth announced a leave of absence. These included the Head of Human Resources and the Company Secretary. On 23 April Mehmet Dalman, the chairman of ENRC, also resigned and next day the group confirmed that Gerhard Ammann, a non-executive director of ENRC and president of Bank Von Roll, a Swiss private bank, would replace Mr Dalman. The Serious Fraud Office launched a criminal investigation into ENRC's business practices in April 2013. ENRC annual report released on 30 April said that UK authorities are investigating whether ENRC breached Britain's rules for listed companies, specifically with acquisitions made in

2100-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

2240-654: A growing nationalist movement, the Mouvement National Congolais led by Patrice Lumumba , won the parliamentary elections . Lumumba became the first Prime Minister of the Republic of the Congo, on 24 June 1960. The parliament elected Joseph Kasa-Vubu as president , of the Alliance des Bakongo ( ABAKO ) party. Other parties that emerged included the Parti Solidaire Africain led by Antoine Gizenga , and

2380-562: A joint Anglo-Belgian-Portuguese invasion of German colonial territory in 1916 and 1917 during the East African campaign . The Force Publique gained a notable victory when it marched into Tabora in September 1916 under the command of General Charles Tombeur after heavy fighting. After 1918, Belgium was rewarded for the participation of the Force Publique in the East African campaign with

2520-460: A lack of infrastructure, corruption, and centuries of both commercial and colonial extraction and exploitation, followed by more than 60 years of independence, with little widespread development. Besides the capital Kinshasa, the two next largest cities, Lubumbashi and Mbuji-Mayi , are both mining communities. The DRC's largest export is raw minerals, with China accepting over 50% of its exports in 2019. In 2021, DR Congo's level of human development

2660-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

2800-648: A monopoly over violence and resource extraction. The most violent of these concession regions, were surrounding rubber plantations. Concession regions would align with villages, employing local chiefs to aid in enforce strict quotas. Failure to comply or to meet quotas would result in kidnaping of family, held ransom until quotas could be met or physical violence. Violence was carried out by "village sentries," European militias employed to ensure collection. These sentries were granted full impunity for violence, without proper oversight were known to kill and eat underperforming workers. During 1885–1908, millions of Congolese died as

2940-563: A third even further east and south around the Upemba Depression . By the 13th century there were three main confederations of states in the western Congo Basin around Pool Malebo. In the east were the Seven Kingdoms of Kongo dia Nlaza , considered to be the oldest and most powerful, which likely included Nsundi , Mbata , Mpangu , and possibly Kundi and Okanga . South of these was Mpemba which stretched from modern-day Angola to

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3080-643: Is Chairman of the Board of Directors and Mr Benedikt Sobotka is Chief Executive Officer. The ERG is 40% owned by the Kazakhstan government. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

3220-465: Is a "major supplier of manganese and ferromanganese concentrates to customers throughout Russia, Ukraine, Central Asia and China (ENRC 2013)." The ENRC is one of the largest electricity providers in Kazakhstan, accounting for approximately 16.3% of the country's recorded electricity production in 2011. The ENRC's assets in the Republic of Kazakhstan comprise Kazchrome , Zhairem GOK, SSGPO, Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter (KAS) ENRC

3360-441: Is a lucrative copper- and cobalt-extractions projects mining older mines' tailings ponds, partly owned and operated by First Quantum Minerals , a Vancouver, British Columbia based mining and metals company, until its forced closure in September 2009 when the DRC government revoked its license and confiscated the holdings. First Quantum spent $ 750 million on acquiring and developing the property. First Quantum took out an action against

3500-600: Is a member of the United Nations , Non-Aligned Movement , African Union , COMESA , Southern African Development Community , Organisation Internationale de la Francophonie , and Economic Community of Central African States . The Democratic Republic of the Congo is named after the Congo River , which flows through the country. The Congo River is the world's deepest river and the world's third-largest river by discharge . The Comité d'études du haut Congo ("Committee for

3640-448: Is its Ferroalloys Division (ENRC 2013). ENRC is one of the world's largest ferrochrome producers (ENRC 2013). ENRC's Kazchrome  [ de ] in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise. ENRC's Zhairem GOK , one of the "largest manganese ore mining and processing plants" in Kazakhstan,

3780-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

3920-446: Is one of the world's largest ferrochrome producers (ENRC 2013). ENRC's Kazchrome in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise. Contributing significantly to Kazakhstan's GDP, one of the world's significant exporters of iron ore; the world's ninth largest producer of traded alumina; and one of

4060-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

4200-436: The 2018 general election , in the country's first peaceful transition of power since independence, Kabila was succeeded as president in a highly contentious election won by Félix Tshisekedi , who has served as president since. Since 2015, eastern Congo has been the site of an ongoing military conflict . The Democratic Republic of the Congo is extremely rich in natural resources but has suffered from political instability,

4340-930: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

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4480-462: The Casement Report , confirmed the accusations of humanitarian abuses. The Belgian Parliament forced Leopold II to set up an independent commission of inquiry. Its findings confirmed Casement's report of abuses, concluding that the population of the Congo had been "reduced by half" during this period. Determining precisely how many people died is impossible, as no accurate records exist. In 1908,

4620-572: The Conference of Berlin in 1885 and made the land his private property. He named it the Congo Free State . Leopold's regime began various infrastructure projects, such as the construction of the railway that ran from the coast to the capital of Leopoldville (now Kinshasa), which took eight years to complete. In the Free State, colonists coerced the local population into producing rubber, for which

4760-518: The Congo Free State , Belgian Congo , the Republic of the Congo-Léopoldville , the Democratic Republic of the Congo and the Republic of Zaire , before returning to its current name the Democratic Republic of the Congo. At the time of independence, the country was named the Republic of the Congo-Léopoldville to distinguish it from its neighbour Congo , officially the Republic of the Congo . With

4900-553: The Congo River . It included various kingdoms such as Mpemba Kasi and Vunda . To its west across the Congo River was a confederation of three small states; Vungu (its leader), Kakongo , and Ngoyo . The Kingdom of Kongo was founded in the 14th century and dominated the western region. The empire of Mwene Muji was founded around Lake Mai-Ndombe. From the Upemba Depression the Luba Empire and Lunda Empire emerged in

5040-713: The Democratic Republic of Congo , the development projects of coal in Mozambique , bauxite in Mali , platinum in Zimbabwe , and fluorspar in South Africa, as well as trucking and logistics business across the African continent. ENRC had made a £584-million cash offer in September 2008 (Webb 18 September 2009). The chairperson Phillippe Edmonds and CEO Andrew Groves both resigned when

5180-658: The First Congo War . The country then had its name changed back and was confronted by the Second Congo War from 1998 to 2003, which resulted in the deaths of 5.4 million people and the assassination of President Laurent-Désiré Kabila . The war ended under President Joseph Kabila , who governed the country from 2001 to 2019 and under whom human rights in the country remained poor and included frequent abuses such as forced disappearances , torture, arbitrary imprisonment and restrictions on civil liberties. Following

5320-498: The Garamba National Park . The war in the Congo has been described as the bloodiest war since World War II. In 2009, The New York Times reported that people in the Congo continued to die at a rate of an estimated 45,000 per month  – estimates of the number who have died from the long conflict range from 900,000 to 5,400,000. The death toll is caused by widespread disease and famine; reports indicate that almost half of

5460-729: The Kazakhstan Stock Exchange . ENRC is now a fully owned subsidiary of the Eurasian Resources Group (ERG), a private natural resources company headquartered in Luxembourg . This private company incorporates the assets of former FTSE-100 group, ENRC PLC, which it acquired in November 2013. The company was founded by circle of oligarchs in Kazakhstan known as the "Trio" in 1994. The Trio consisted of Alijan Ibragimov , Alexander Mashkevitch and Patokh Chodiev , all active in

5600-595: The Kolwezi tailings project , which the DRC government had confiscated from First Quantum Minerals (FQM). FQM had spent C$ 750 million developing the Kolwezi assets. ENRC paid $ 175 million for its majority stake in Camrose. In September 2010 ENRC acquired the outstanding 50% interest in Bahia Minerals BV and in October 2010 – 100% of Mineração Minas Bahia SA (MIBA) and 51% of Mineração Peixe Bravo SA (MPB). In March 2013 ENRC

5740-519: The Kongo language (also called Kikongo ). According to American writer Samuel Henry Nelson: "It is probable that the word 'Kongo' itself implies a public gathering and that it is based on the root konga , 'to gather' (trans[itive])." The modern name of the Kongo people, Bakongo , was introduced in the early 20th century. The Democratic Republic of the Congo has been known in the past as, in chronological order,

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5880-563: The National Congress for the Defence of the People (CNDP), which began an armed rebellion against the government. In March 2009, after a deal between the DRC and Rwanda, Rwandan troops entered the DRC and arrested Nkunda and were allowed to pursue FDLR militants. The CNDP signed a peace treaty with the government in which it agreed to become a political party and to have its soldiers integrated into

6020-657: The Norwegian Refugee Council , the situation in the DRC became much worse in 2016 and 2017 and is a major moral and humanitarian challenge comparable to the wars in Syria and Yemen, which receive much more attention. Women and children are abused sexually and "abused in all possible manners". Besides the conflict in North Kivu , violence increased in the Kasai region . The armed groups were after gold, diamonds, oil, and cobalt to line

6160-572: The Republic of Zaire , its fourth name change in eleven years and its sixth overall. The Congo River was renamed the Zaire River. During the 1970s and 1980s, Mobutu was invited to visit the United States on several occasions, meeting with U.S. Presidents Richard Nixon , Ronald Reagan and George H. W. Bush . Following the dissolution of the Soviet Union U.S. relations with Mobutu cooled, as he

6300-641: The South Atlantic Ocean . Centered on the Congo Basin , the territory of the Congo was first inhabited by Central African foragers around 90,000 years ago and was settled in the Bantu expansion about 3000 to 2000 years ago. In the west, the Kingdom of Kongo ruled around the mouth of the Congo River from the 14th to 19th centuries. In the center and east, the empires of Mwene Muji , Luba , and Lunda ruled from

6440-453: The "Democratic Republic of the Congo". In 1971 Mobutu changed the name again, this time to "Republic of Zaire". Mobutu had the staunch support of the United States because of his opposition to communism ; the U.S. believed that his administration would serve as an effective counter to communist movements in Africa. A single-party system was established, and Mobutu declared himself head of state . He periodically held elections in which he

6580-459: The 100,000 Europeans who had remained behind after independence fled the country. After the United Nations rejected Lumumba's call for help to put down the secessionist movements, Lumumba asked for assistance from the Soviet Union, who accepted and sent military supplies and advisers. On 23 August, the Congolese armed forces invaded South Kasai . Lumumba was dismissed from office on 5 September 1960 by Kasa-Vubu who publicly blamed him for massacres by

6720-432: The 15th and 17th centuries respectfully dominated the eastern region. Belgian exploration and administration took place from the 1870s until the 1920s. It was first led by Henry Morton Stanley , who undertook his explorations under the sponsorship of King Leopold II of Belgium . The eastern regions of the precolonial Congo were heavily disrupted by constant slave raiding , mainly from Arab–Swahili slave traders such as

6860-430: The 15th, 16th, and 17th centuries to the late 19th and early 20th centuries. King Leopold II of Belgium formally acquired rights to the Congo territory from the colonial nations of Europe in 1885 and declared the land his private property, naming it the Congo Free State . From 1885 to 1908, his colonial military forced the local population to produce rubber and committed widespread atrocities . In 1908, Leopold ceded

7000-415: The 1988 discovery of the Semliki harpoon at Katanda , one of the oldest barbed harpoons ever found, believed to have been used to catch giant river catfish . Bantu peoples reached Central Africa at some point during the first millennium BC, then gradually started to expand southward. Their propagation was accelerated by the adoption of pastoralism and of Iron Age techniques. The people living in

7140-446: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

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7280-536: The Belgian Congo and the majority of Leopold II's administration with him. Opening up the Congo and its natural and mineral riches to the Belgian economy remained the main motive for colonial expansion – however, other priorities, such as healthcare and basic education, slowly gained in importance. Colonial administrators ruled the territory and a dual legal system existed (a system of European courts and another one of indigenous courts, tribunaux indigènes ). Indigenous courts had only limited powers and remained under

7420-463: The Belgian Congo. The railway first commenced in the Congo in 1910, reaching a 800-km network of track. In 1923 the colonial capital moved from Boma to Léopoldville, some 300 kilometres (190 mi) further upstream into the interior. The transition from the Congo Free State to the Belgian Congo was a break, but it also featured a large degree of continuity. The last governor-general of the Congo Free State, Baron Théophile Wahis , remained in office in

7560-486: The Belgian parliament, in spite of initial reluctance, bowed to international pressure (especially from the United Kingdom ) and took over the Free State from King Leopold II. On 18 October 1908, the Belgian parliament voted in favour of annexing the Congo as a Belgian colony. Executive power went to the Belgian minister of colonial affairs , assisted by a Colonial Council (Conseil Colonial) (both located in Brussels). The Belgian parliament exercised legislative authority over

7700-430: The Central African Republic on behalf of its former president, Ange-Félix Patassé . Talks led to a peace accord under which Kabila would share power with former rebels. By June 2003 all foreign armies except those of Rwanda had pulled out of Congo. A transitional government was set up until after the election. A constitution was approved by voters, and on 30 July 2006 DRC held its first multi-party elections . These were

7840-434: The Company completed acquisition of the Central African Mining Exploration Company (CAMEC). CAMEC's operations incorporate the assets of copper and cobalt in the Democratic Republic of Congo , the development projects of coal in Mozambique , bauxite in Mali , platinum in Zimbabwe , and fluorspar in South Africa, as well as trucking and logistics business across the African continent. CAMEC's Mukondo Mine may be

7980-504: The Congo , led by Congolese warlord Jean-Pierre Bemba . The two rebel movements, along with Rwandan and Ugandan troops, started the Second Congo War by attacking the DRC army in 1998. Angolan, Zimbabwean, and Namibian militaries entered the hostilities on the side of the government. Kabila was assassinated in 2001. His son Joseph Kabila succeeded him and called for multilateral peace talks. UN peacekeepers, MONUC, now known as MONUSCO , arrived in April 2001. In 2002–03 Bemba intervened in

8120-502: The DRC government in the International Chamber of Commerce Court of Arbitration. Fasken Martineau, a leading international business law and litigation firm recovered an almost unprecedented US$ 1.25B in the dispute between First Quantum Minerals and the DRC. As part of the settlement Eurasian Natural Resources Corporation (ENRC) purchased First Quantum's residual claims and assets in the DRC. In August 2010 ENRC acquired 50.5% of Camrose Resources Limited ('Camrose'), which at that time held

8260-412: The DROC , and RDC (in French). Before Bantu expansion , the territory comprising the Democratic Republic of the Congo was home to Central Africa's oldest settled groups, the Mbuti peoples . Most of the remnants of their hunter-gatherer culture remain in the present time. The geographical area now known as the Democratic Republic of the Congo was populated as early as 90,000 years ago, as shown by

8400-416: The Democratic Republic of Congo and a 2012 sale of railway line repair company Zhol Zhondeushi to a company connected to the family of one of the miner's co-founders. In November 2013 ENRC de-listed from the LSE after the group's founders gained acceptances from 96.7 percent of shareholders for their offer - of $ 2.65 in cash and 0.23 of a Kazakhmys share for each one in ENRC - to acquire the company along with

8540-407: The Democratic Republic of the Congo is the most populous Francophone country in the world. The national capital and largest city is Kinshasa , which is also the economic center. The country is bordered by the Republic of the Congo , Central African Republic , South Sudan , Uganda , Rwanda , Burundi , Tanzania (across Lake Tanganyika ), Zambia , Angola , the Cabinda exclave of Angola , and

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8680-496: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

8820-431: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

8960-610: The Kazakh government. In February 2014, it was reported that the firm would have to sell its international assets, including its lucrative copper mines in the Democratic Republic of Congo , after the company's founders came under increased pressure to repay the large loan they had taken out to privatise ENRC. ENRC operates in Kazakhstan, China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa). The group incorporates six Divisions (ENRC 2013): Ferroalloys, Iron Ore, Alumina and Aluminium, Energy, Other Non-ferrous, Logistics ENRC's largest division

9100-451: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

9240-544: The Non-Executive Chairman of ENRC noted this was ENRC's first transaction outside of Kazakhstan. The purchase agreement (4 December 2007) gives ENRC the economic benefit from all dividends and distributions made after 4 December 2007. The acquisition will provide a strong platform for ENRC in Russia. The purchase provided vertical integration with companies that ENRC operates: Serov Ferrochrome Factory , Saranovskaya Mine Rudnaya and Serov Metalconcentrate Works . Dr. Johannes Sittard , Chief Executive Officer of ENRC, described how

9380-434: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

9520-414: The Parti National du Peuple led by Albert Delvaux and Laurent Mbariko . The Belgian Congo achieved independence on 30 June 1960 under the name "République du Congo" ("Republic of Congo" or "Republic of the Congo" in English). Shortly after, on 15 August 1960, the neighboring French colony of Middle Congo also gained independence and adopted the same name, ' Republic of Congo .' To avoid confusion between

9660-410: The Simba rebels by November 1965. Lumumba had previously appointed Mobutu chief of staff of the new Congo army, Armée Nationale Congolaise . Taking advantage of the leadership crisis between Kasavubu and Tshombe, Mobutu garnered enough support within the army to launch a coup. A constitutional referendum the year before Mobutu's coup of 1965 resulted in the country's official name being changed to

9800-406: The Study of the Upper Congo"), established by King Leopold II of Belgium in 1876, and the International Association of the Congo , established by him in 1879, were also named after the river. The Congo River was named by early European sailors after the Kingdom of Kongo and its Bantu inhabitants, the Kongo people , when they encountered them in the 16th century. The word Kongo comes from

9940-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

10080-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

10220-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

10360-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

10500-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

10640-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

10780-561: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

10920-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

11060-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

11200-581: The armed forces in South Kasai and for involving Soviets in the country. On 7 September, Lumumba made a speech to the Congolese House of Representatives, arguing his dismissal was illegal under the nation's laws. Congolese law gave parliament, not the president, the authority to dismiss a government minister. The House and Senate both rejected the dismissal of Lumumba, but the removal proceeded unconstitutionally. On 14 September, Colonel Joseph Mobutu , with

11340-457: The backing of the US and Belgium, removed Lumumba from office. On 17 January 1961, Lumumba was handed over to Katangan authorities and executed by Belgian-led Katangan troops. A 2001 investigation by Belgium's Parliament found Belgium "morally responsible" for the murder of Lumumba, and the country has since officially apologised for its role in his death. On 18 September 1961, in ongoing negotiations of

11480-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

11620-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

11760-706: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

11900-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

12040-646: The construction and the lucrative facility was almost ready to be operational when it was seized by the government and handed to This led to First Quantum Minerals v Highwinds and others, a case concerning the expropriation of mining licences in the Democratic Republic of Congo. DRC passed the concession to a new joint venture Metalkol Sarl, encompassing state-owned Gecamines (30%) and Dan Gertler 's newly formed British Virgin Island-based company, Highwinds (70%). Camrose Resources Limited ('Camrose') "owned British Virgin Island-based new company, Highwind Group which had

12180-416: The country to the "Democratic Republic of the Congo", but the change was not made. The country's name was later restored by President Laurent-Désiré Kabila when he overthrew Mobutu in 1997. To distinguish it from the neighboring Republic of the Congo, it is sometimes referred to as Congo (Kinshasa) , Congo-Kinshasa , or Big Congo . Its name is sometimes also abbreviated as Congo DR , DR Congo , DRC ,

12320-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

12460-554: The deal was closed in November 2009. CAMEC's Mukondo Mine may be the richest cobalt reserve in the world. Copper from Mukondo is refined at the Luita plant, with planned capacity of 100,000 tonnes per year of copper cathode. In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China. ENRC's acquisition 50.5% of Kolwezi Mine Tailings (KWT)

12600-635: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Democratic Republic of Congo DR Congo , officially the Democratic Republic of the Congo , also known as the DRC , Congo-Kinshasa or simply Congo , is a country in Central Africa . By land area, DR Congo is the second-largest country in Africa and the 11th-largest in the world . With a population of around 109 million,

12740-536: The east of the country, Soviet and Cuban-backed rebels called the Simbas rose up, taking a significant amount of territory and proclaiming a communist "People's Republic of the Congo" in Stanleyville. The Simbas were pushed out of Stanleyville in November 1964 during Operation Dragon Rouge , a military operation conducted by Belgian and American forces to rescue hundreds of hostages. Congolese government forces fully defeated

12880-532: The firm control of the colonial administration. The Belgian authorities permitted no political activity in the Congo whatsoever, and the Force Publique put down any attempts at rebellion. The Belgian Congo was directly involved in the two world wars. During World War I (1914–1918), an initial stand-off between the Force Publique and the German colonial army in German East Africa turned into open warfare with

13020-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

13160-601: The first free national elections since 1960, which many believed would mark the end to violence in the region. However, an election-result dispute between Kabila and Bemba turned into a skirmish between their supporters in Kinshasa. MONUC took control of the city. A new election took place in October 2006, which Kabila won, and in December 2006 he was sworn in as president. Laurent Nkunda , a member of Rally for Congolese Democracy–Goma , defected along with troops loyal to him and formed

13300-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

13440-608: The highest levels of sexual violence in the world. According to the Human Rights Watch and the New York University-based Congo Research Group, armed troops in DRC's eastern Kivu region have killed over 1,900 civilians and kidnapped at least 3,300 people since June 2017 to June 2019. On 10 May 2018, Congolese gynecologist Denis Mukwege was awarded the Nobel Peace Prize for his effort to end

13580-462: The individuals who have died are children under five years of age. There have been frequent reports of weapon bearers killing civilians, of the destruction of property, of widespread sexual violence, causing hundreds of thousands of people to flee their homes, and of other breaches of humanitarian and human rights law. One study found that more than 400,000 women are raped in the Democratic Republic of Congo every year. In 2018 and 2019, Congo reported

13720-419: The infamous Tippu Tip , who was well known to Stanley. Leopold had designs on what was to become the Congo as a colony. In a succession of negotiations, Leopold, professing humanitarian objectives in his capacity as chairman of the front organization Association Internationale Africaine , actually played one European rival against another. King Leopold formally acquired rights to the Congo territory at

13860-516: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

14000-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

14140-423: The largest electricity providers in Kazakhstan. ENRC is one of Kazakhstan's largest companies, accounting for approximately 3% of Kazakhstan's GDP in 2009. ENRC currently employs over 70,000 people, of which 65,000 are located in Kazakhstan. In December 2009 ENRC acquired 95.40% of the shares of Central African Mining Exploration Company (CAMEC) CAMEC's operations incorporate the assets of copper and cobalt in

14280-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

14420-469: The late 1960s, Mobutu continued to shuffle his governments and cycle officials in and out of the office to maintain control. Joseph Kasa-Vubu's death in April 1969 ensured that no person with First Republic credentials could challenge his rule. By the early 1970s, Mobutu was attempting to assert Zaire as a leading African nation. He traveled frequently across the continent while the government became more vocal about African issues, particularly those relating to

14560-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

14700-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

14840-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

14980-408: The mining, oil and gas, and banking sectors in Kazakhstan. The assets of the company were acquired as part of the privatization process in Kazakhstan. The company in its present form was established in 2006 as part of a re-organisation to consolidate a series of businesses into one group. The company floated around 18% of its equity on the London Stock Exchange in December 2007. In December 2009

15120-527: The name of the country to the Democratic Republic of the Congo. Kabila later requested that foreign military forces return to their own countries. Rwandan troops retreated to Goma and launched a new Tutsi-led rebel military movement called the Rassemblement Congolais pour la Democratie to fight Kabila, while Uganda instigated the creation of a rebel movement called the Movement for the Liberation of

15260-549: The national army in exchange for the release of its imprisoned members. In 2012 Bosco Ntaganda , the leader of the CNDP, and troops loyal to him, mutinied and formed the rebel military March 23 Movement (M23), claiming the government had violated the treaty. In the resulting M23 rebellion , M23 briefly captured the provincial capital of Goma in November 2012. Neighboring countries, particularly Rwanda, have been accused of arming rebel groups and using them as proxies to gain control of

15400-459: The planned 2016 elections, which he is constitutionally barred from participating in). This bill passed; however, it was gutted of the provision that would keep Kabila in power until a census took place. A census is supposed to take place, but it is no longer tied to when the elections take place. In 2015, elections were scheduled for late 2016 and a tenuous peace held in the Congo. On 27 November 2016 Congolese foreign minister Raymond Tshibanda told

15540-464: The pockets of rich men both in the region and internationally. There were also ethnic and cultural rivalries at play, as well as religious motives and the political crisis with postponed elections. Egeland says people believe the situation in the DRC is "stably bad" but in fact, it has become much, much worse. "The big wars of the Congo that were really on top of the agenda 15 years ago are back and worsening". Disruption in planting and harvesting caused by

15680-411: The press no elections would be held in 2016: "it has been decided that the voter registration operation will end on July 31, 2017, and that election will take place in April 2018." Protests broke out in the country on 20 December when Kabila's term in office ended. Across the country, dozens of protesters were killed and hundreds were arrested. According to Jan Egeland , presently Secretary-General of

15820-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

15960-531: The promulgation of the Luluabourg Constitution on 1 August 1964, the country became the DRC but was renamed Zaire (a past name for the Congo River) on 27 October 1971 by President Mobutu Sese Seko as part of his Authenticité initiative. The word Zaire is from a Portuguese adaptation of a Kikongo word nzadi ("river"), a truncation of nzadi o nzere ("river swallowing rivers"). The river

16100-725: The provincial capital of Lubumbashi in 2013 and 400,000 persons displaced in the province as of 2013 . On and off fighting in the Ituri conflict occurred between the Nationalist and Integrationist Front and the Union of Congolese Patriots who claimed to represent the Lendu and Hema ethnic groups, respectively. In the northeast, Joseph Kony 's Lord's Resistance Army moved from their original bases in Uganda and South Sudan to DR Congo in 2005 and set up camps in

16240-712: The purchase of Serov gave ENRC an asset base and strong platform in Russia. In April 2008 the Founder Shareholders of Eurasian Natural Resources Corporation Group "ultimately indirectly owned equally" Industrial Metals Technology Limited , Chesswood Holdings Limited , Blackmore Holdings Limited , Prentice Holdings Limited , Cretown Corporate Advisory BV , International Mineral Resources BV ('IMR') Serov Ferrochrome Producer (Serov SPA). Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch were Founder Shareholders of Eurasian Natural Resources Corporation Group. Johannes Sittard ,

16380-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

16520-699: The rebellion of Laurent-Desire Kabila that overthrew the Mobutu regime." In September 1997, Mobutu died in exile in Morocco. By 1996, following the Rwandan Civil War and genocide and the ascension of a Tutsi -led government in Rwanda, Rwandan Hutu militia forces ( Interahamwe ) fled to eastern Zaire and used refugee camps as bases for incursions against Rwanda. They allied with the Zairian Armed Forces to launch

16660-646: The resource-rich country, an accusation they deny. In March 2013, the United Nations Security Council authorized the United Nations Force Intervention Brigade to neutralize armed groups. On 5 November 2013, M23 declared an end to its insurgency. Additionally, in northern Katanga , the Mai-Mai created by Laurent Kabila slipped out of the control of Kinshasa with Gédéon Kyungu Mutanga 's Mai Mai Kata Katanga briefly invading

16800-412: The richest cobalt reserve in the world. Copper from Mukondo is refined at the Luita plant, with planned capacity of 100,000 tonnes per year of copper cathode. In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China. In February 2010 ENRC acquired

16940-557: The south and southwest were foraging groups, whose technology involved only minimal use of metal technologies. The development of metal tools during this time period revolutionized agriculture. This led to the displacement of the African pygmies . Following the Bantu migrations, a period of state and class formation began circa 700 with three centres in the modern-day territory; one to the west around Pool Malebo , one east around Lake Mai-Ndombe , and

17080-519: The southern region. Zaire established semi-clientelist relationships with several smaller African states, especially Burundi, Chad, and Togo. Corruption became so common the term " le mal Zairois " or "Zairian sickness", meaning gross corruption, theft and mismanagement, was coined, reportedly by Mobutu. International aid, most often in the form of loans, enriched Mobutu while he allowed national infrastructure such as roads to deteriorate to as little as one-quarter of what had existed in 1960. Zaire became

17220-625: The spread of automobiles and development of rubber tires created a growing international market. Rubber sales made a fortune for Leopold, who built several buildings in Brussels and Ostend to honor himself and his country. To enforce the rubber quotas, the Force Publique was called in and made the practice of cutting off the limbs of the natives a matter of policy. Under the Congo Free State concessions were granted to private industry, granting

17360-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

17500-435: The territory, which thus became a Belgian colony . Congo achieved independence from Belgium on 30 June 1960 and was immediately confronted by a series of secessionist movements , the assassination of Prime Minister Patrice Lumumba , and the seizure of power by Mobutu Sese Seko in a 1965 coup d'état . Mobutu renamed the country Zaire in 1971 and imposed a harsh personalist dictatorship until his overthrow in 1997 by

17640-402: The two, the former Belgian Congo became known as the Democratic Republic of the Congo ( DR Congo ), while the former French colony retained the name 'Republic of the Congo' ( Congo ). Shortly after independence the Force Publique mutinied, and on 11 July the province of Katanga (led by Moïse Tshombe ) and South Kasai engaged in secessionist struggles against the new leadership. Most of

17780-522: The use of sexual violence as a weapon of war and armed conflict . In 2015, major protests broke out across the country and protesters demanded that Kabila step down as president. The protests began after the passage of a law by the Congolese lower house that, if also passed by the Congolese upper house, would keep Kabila in power at least until a national census was conducted (a process which would likely take several years and therefore keep him in power past

17920-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

18060-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

18200-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

18340-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

18480-508: Was forced to write down a US$ 1.5bn (£1bn) loss due largely to an "onerous" locked in contract with the Russian aluminium company, Rusal with whom they must provide aluminium at what is now below market price (Telegraph 2013). On 21 April 2013, The Sunday Times revealed that three founders, Alexander Mashkevitch, Patokh Chodiev and Alijan Ibragimov, were behind a possible takeover bid for ENRC. Following this news, three senior executives resigned, and

18620-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

18760-531: Was known as Zaire during the 16th and 17th centuries; Congo seems to have replaced Zaire gradually in English usage during the 18th century, and Congo is the preferred English name in 19th-century literature, although references to Zaire as the name used by the natives (i.e., derived from Portuguese usage) remained common. In 1992, the Sovereign National Conference voted to change the name of

18900-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

19040-616: Was no longer deemed necessary as a Cold War ally. Opponents within Zaire stepped up demands for reform. This atmosphere contributed to Mobutu's declaring the Third Republic in 1990, whose constitution was supposed to pave the way for democratic reform. The reforms turned out to be largely cosmetic. Mobutu continued in power until armed forces forced him to flee in 1997. "From 1990 to 1993, the United States facilitated Mobutu's attempts to hijack political change", one academic wrote, and "also assisted

19180-521: Was ranked 179th out of 191 countries by the Human Development Index and is classed as a least developed country by the UN . As of 2018 , following two decades of various civil wars and continued internal conflicts , around 600,000 Congolese refugees were still living in neighbouring countries. Two million children risk starvation, and the fighting has displaced 4.5 million people. The country

19320-606: Was the Chief Executive Officer of ENRC and Sir David Cooksey was the Non-Executive Chairman of ENRC. ENRC's senior management team consisted of: Upon the acquisition by ERG, many of the previous senior management did not transfer to the new group, left their positions or were replaced in a new structure. ENRC is now owned fully by ERG ( Eurasian Resources Group ), a private company headquartered in Luxembourg , Grand Duchy of Luxembourg . Alexander Machkevitch

19460-422: Was the only candidate. Although relative peace and stability were achieved, Mobutu's government was guilty of severe human rights violations, political repression , a cult of personality and corruption . By late 1967 Mobutu had successfully neutralized his political opponents and rivals, either through co-opting them into his regime, arresting them, or rendering them otherwise politically impotent. Throughout

19600-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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