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100-814: GMR Group is an Indian multinational conglomerate headquartered in New Delhi . The group was founded in 1978 by Grandhi Mallikarjuna Rao and comprises several companies including GMR Infrastructure, GMR Energy, GMR Airports, and GMR Enterprises. Employing the public-private partnership model, the Group has implemented several infrastructure projects in India . The Group also has a global presence with infrastructure operating assets and projects in several countries including Philippines and Greece . GMR Group owns, develops, operates, and manages airports, major energy utilities, highways, and urban infrastructure facilities. With

200-661: A 75% growth in dollar terms since 2020 when it was valued at $ 6.2 billion, according to a report by consulting firm D & P Advisory. In 2022, the BCCI took insurance of ₹ 5,000 crore (US$ 600 million) for the IPL. This insurance policy involves all stakeholders, including broadcasters, ancillary services providers, and sponsors. The BCCI is covered in the case of any revenue losses due to weather, riots, and other unforeseen events. The next cycle of IPL media rights will last from 2023 to 2027 and will be put to auction. In this auction,

300-766: 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

400-508: 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

500-429: 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

600-499: A higher amount for the last two seasons of its sponsorship contract due to the league's expansion from the 2022 season. According to InsideSport , due to the new deal's structure, Tata would pay ₹ 335 crore (US$ 40 million) per year while Vivo would pay the deficit of ₹ 163 crore (US$ 20 million) per season. Saudi Aramco brought the rights to advertise on the Purple and Orange caps in 2022. The BCCI pays ten per cent of

700-490: 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

800-835: A net asset base of nearly US$ 25 billion, it is one of India's largest infrastructure development companies. GMR Group is famous for operating the Indira Gandhi International Airport in Palam, Delhi. As per the Forbes list of India’s 100 richest tycoons, dated October 09, 2024, Rao is ranked 78th with a net worth of $ 3.99 Billion. GMR Group chairman Grandhi Mallikarjuna Rao, a first-generation entrepreneur hailing from Rajam in Srikakulam District in Andhra Pradesh, pledged $ 340 million, which

900-467: A purple cap whilst fielding. The eventual winner keeps the cap for the season. Bhuvneshwar Kumar and Dwayne Bravo are the only players to have won the award twice. Harshal Patel of Punjab Kings who took 24 wickets during the 2024 season , is the most recent winner of the award. The Most Valuable Player award, formerly called the "Man of the Tournament" until the 2012 season, is awarded using

1000-434: A ratings system introduced in 2013. Sunil Narine won the award in 2024. The Fair Play Award is given after each season to the team considered to have the best fair play record. After each match, the two on-field umpires and the third umpire score the performance of both teams, with the highest-scoring team at the end of the season receiving the award. The 2024 winners were Sunrisers Hyderabad . The Emerging Player Award

1100-563: A single title. The reigning champions are the Kolkata Knight Riders, who defeated the Sunrisers Hyderabad by eight wickets in the 2024 IPL final to secure their third title. Team now defunct Team now defunct This section shows records from the league stage only (i.e. excluding playoffs & finals) from 2008–2024. Stats are correct as of conclusion of league stage of IPL 2024 . A summary of

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1200-511: A winning bid of ₹ 2,199 crore (US$ 260 million). On 4 August 2020, Vivo canceled the title sponsorship rights due to the military stand-off between India and China at the Line of Actual Control in July 2020. The withdrawal was also a result of Vivo's market losses due to the ongoing COVID-19 pandemic; Vivo intended to return as the title sponsor for the following three years. Dream11 became

1300-539: Is a leading developer with 6 operating assets adding to the total length of over 2,400 lane km. In railways, GMR has a total order book of 4,000 Crores with projects from clients like Dedicated Freight Corridor Corporation of India (DFCCIL) and Rail Vikas Nigam Limited (RVNL). GMR has forayed into sports by promoting the Indian Premier League (IPL) cricket team – Delhi Capitals and Pro Kabaddi League – UP Yodha. Delhi Capitals The Delhi Capitals

1400-556: Is a provider of engineering and management services and has been in operation for the last 15 years. GMR Group is a player in the Indian power sector with an installed capacity of 3200 MW. The group has 15 power generation projects across Hydro, Thermal, and Renewable energy of which 11 are operational and 4 are under various stages of development. In the Urban structure business, the GMR group

1500-500: Is currently developing an 850- hectare large format 'Special Investment Regions' (SIR) at Krishnagiri, near Hosur in Tamil Nadu. The SIR is designed and developed by GMR as self-contained eco-systems for economic activity. GMR's Transportation business has surface transport projects including roads, railways, metros, and airstrips/runways in both DBFOT (under GMR Highways) and EPC (under GIL – EPC) segments. In roads and highways, GMR

1600-422: Is equivalent to his personal share in the infrastructure conglomerate, to improve education among the under-served sections of the society. The company started with agri-based industries like jute, sugar, and breweries and has slowly moved into the infrastructure space over the past decade. Now the GMR group interests lie in areas of Airports, Energy, Highways, and Urban Infrastructure. GMR Infrastructure Limited

1700-410: 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

1800-399: Is presented to the player who hits the most sixes at the end of the season. From 2008 to 2012, the IPL title sponsor was DLF , India's largest real estate developer, which bid ₹ 200 crore (US$ 24 million) for the rights for five seasons. After the 2012 season, PepsiCo bought the title sponsorship rights for ₹ 397 crore (US$ 48 million) for the next five seasons but terminated

1900-457: Is proposed to be the largest aerotropolis in India spread across 1,500-acre (6.1 km) around Rajiv Gandhi International Airport, and is being billed as an "integrated ecosystem covering Office Space, Retail, Leisure, Entertainment, Hospitality, Education, Healthcare, Aerospace & Logistics". In September 2021, GMR Group said that it would invest ₹ 519.52 crore towards metro connectivity at

2000-518: Is the infrastructure holding company formed to fund the capital requirements of various infrastructure projects across the sectors. It undertakes the development of infrastructure projects through its various subsidiaries. GMR Group entered the airports development space in 2003, through subsidiary GMR Airports Limited. GMR Airports limited operates Delhi 's Indira Gandhi International Airport , Hyderabad 's Rajiv Gandhi International Airport and Goa 's Manohar International Airport . Besides this,

2100-537: Is the most popular and biggest cricket league and it usually takes place during the summer for 2 months, between March and May each year. It has an exclusive window in the ICC Future Tours Programme , resulting in fewer international cricket tours occurring during the IPL seasons. In 2014, it ranked sixth in average attendance among all sports leagues. In 2010, the IPL became the first sporting event to be broadcast live on YouTube . Inspired by

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2200-865: 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

2300-902: The COVID-19 pandemic , the venue for the 2020 season was moved and games were played in the United Arab Emirates . In August 2021, the BCCI announced that two new franchises, based in two of six shortlisted cities, would join the league in the 2022 season . In closed bidding held in October, the RPSG Group and CVC Capital won the bids for the teams, paying ₹ 7,000 crore (US$ 840 million) and ₹ 5,200 crore (US$ 620 million), respectively. The teams were subsequently named Lucknow Super Giants and Gujarat Titans . Several IPL franchise owners have expanded their business by acquiring teams in other franchise leagues, such as

2400-638: The Caribbean Premier League (CPL) , South Africa's SA20 , the UAE's International League T20 (ILT) and the USA's Major League Cricket (MLC) . These teams have been branded with similar names to their parent IPL franchises. In addition to the above acquisitions, Delhi Capitals also bought a stake in MLC's Seattle Orcas . The IPL's headquarters are located in the Cricket Centre, next to

2500-796: 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

2600-581: The Major League Cricket (MLC). They were runner up in 2023. 1Sports GMR Varalakshmi Foundation (GMRVF), the Corporate Social Responsibility wing of the Group, develops innovative and locale-specific initiatives in the areas of Education; Health, Hygiene & Sanitation; Empowerment & Livelihoods; and Community development programmes. GMR Engineering College Multinational corporation Most of

2700-565: The Wankhede Stadium in Churchgate , Mumbai. The Governing Council is responsible for the league's functions, including the organization of tournaments. As of April 2024 , its members included: A team can acquire players through the annual player auction , trading with other teams during trading windows, and signing replacements for unavailable players. Players sign up for the auction and set their base price and are bought by

2800-670: 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

2900-619: The BCCI the 10% bank guarantee element of the franchise fee. In September 2012, the Deccan Chargers franchise agreement was terminated after the BCCI failed to find new owners. In October, an auction was held for a replacement franchise; Sun TV Network won the bid for what became the Hyderabad franchise; the team was named Sunrisers Hyderabad . Pune Warriors India withdrew from the IPL in May 2013 due to financial differences with

3000-471: The BCCI. The BCCI officially terminated the franchise in October, and the league reverted to eight teams. In June 2015, the two-time champions Chennai Super Kings and the inaugural season champions Rajasthan Royals were suspended for two seasons following their involvement in a spot-fixing and betting scandal . The two teams were replaced for two seasons by franchises based in Pune and Rajkot . Due to

3100-551: 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

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3200-731: The Group has recently been awarded the concession for the development, operations, and management of Bhogapuram Airport in Visakhapatnam . In the year 2020, the group signed the concession agreement to commission, operationalize, and maintain the Civilian Enclave at the Bidar Airport in Karnataka. GMR Group is developing airport cities on the commercial lands available around its airports in Delhi, Hyderabad, and Goa. In

3300-532: The ICL executive board. In response, the BCCI increased the prize money for its domestic tournaments and imposed lifetime bans on players who joined the rival league, which it considered a rebel league. On 13 September 2007, following India's victory at the 2007 T20 World Cup , the BCCI announced a franchise based Twenty20 cricket competition known as the Indian Premier League. The inaugural season

3400-410: The IPL at US$ 4.16 billion in 2016; that number grew to $ 5.3 billion in 2017 and $ 6.13 billion in 2018. A report from Duff & Phelps said one of the contributing factors in the rapid growth of the IPL's value was a new television deal with Star India Private Limited, which engaged more viewers because the IPL was transmitted to regional channels in eight languages; under the previous deal,

3500-436: The IPL offered total prize money of ₹ 46.5 crore (equivalent to ₹ 49 crore or US$ 5.9 million in 2023), with the winning team netting ₹ 20 crore (equivalent to ₹ 21 crore or US$ 2.5 million in 2023) and the second-placed team ₹ 13 crore (equivalent to ₹ 14 crore or US$ 1.7 million in 2023). League rules mandate that half of any prize money must be distributed amongst

3600-430: The Indian Premier League is here to stay. The league has delivered financially for the players, franchisees, sponsors, and India as a whole, prompting a strong desire among stakeholders to value it appropriately. To ensure continued development, management, and team owners must explore innovative ways of engaging fans, clubs, and sponsors. In December 2022, the IPL became a decacorn valued at US$ 10.9 billion, registering

3700-575: 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

3800-774: The International market, it operates Mactan Cebu International Airport in The Philippines and New Heraklion International Airport in Greece in 2017. In July 2020, Groupe ADP acquired a 49% stake in GMR Airports. GMR has announced it will develop and transform Nagpur Airport into a world-class aviation hub in multiple phases. It will focus on replicating its successful upgrade efforts at Delhi Airport in India and Cebu-Mactan in Philippines. The plan includes

3900-574: 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

4000-558: 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,

4100-464: 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

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4200-636: 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

4300-541: 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

4400-506: 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

4500-614: 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

4600-461: 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

4700-629: 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

4800-766: 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

4900-507: 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

5000-454: The airport. During foundation laying ceremony of Hyderabad Airport Metro Express on 9 December 2022, GMR Group contributed ₹ 625 crore (US$ 75 million), or 10 percent of the project's cost. GMR Aero Services offers specialized services in the field of airport development and operations, which include aviation consultation, engineering and maintenance, operations management, security solutions, and staff training. GMR Aero Academy (GMRAA)

5100-400: The auctioned value of players to their national cricket boards. In January 2018, IPL chairman Rajiv Shukla said the IPL would double the amount paid to cricket boards that made their players available for an entire season. In 2022, Australian Cricketers' Association expressed its unhappiness about this. The IPL tournament rapidly grew in value between 2016 and 2018. Financial experts valued

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5200-405: The award. Australian batsman David Warner has won the award three times, more than any other player. Virat Kohli of Royal Challengers Bengaluru , who scored 741 runs during the 2024 season , is the most recent winner of the award. The Purple Cap is awarded to the highest wicket-taker at the end of each season. It is an ongoing competition and the bowler who is the leading wicket-taker wears

5300-513: The ban on players who chose to participate in the ICL, the rival league shut down in 2009. New franchises, Pune Warriors India and Kochi Tuskers Kerala , joined the league before the fourth season in 2011. The Sahara Adventure Sports Group purchased the Pune franchise for $ 370 million, while Rendezvous Sports World bought the Kochi franchise for $ 333.3 million. The Kochi franchise was terminated after just one season due to their failure to pay

5400-469: 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 ,

5500-495: The broadcasting rights were divided into four packages. Package A was for domestic television rights, and Package B was for domestic digital rights. Package C was for the digital rights of eighteen non-exclusive matches, and Package D was for international television and digital rights, further divided into four groups. On 13 June 2022, it was reported the packages for domestic television and streaming rights had fetched at least ₹ 397.75 billion (nearly US$ 5.1 billion) in total, doubling

5600-742: 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

5700-654: 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

5800-510: 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

5900-536: The contract due date or the actual payment date. Before the 2014 season, Indian domestic players were not included in the player auction pool. They could be signed up by franchises at a discrete amount while a fixed sum of ₹ 10 lakh (US$ 12,000) to ₹ 30 lakh (US$ 36,000) would be deducted per signing from the franchise's salary purse. This received significant opposition from franchise owners, who complained richer franchises were "luring players with under-the-table deals." The IPL later decided to include domestic players in

6000-643: 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

6100-487: 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 the British East India Company founded in 1600 and

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6200-485: The deal in October 2015, two years before the expiry of the contract, due to the two-season suspension of the Chennai and Rajasthan franchises from the league. The BCCI transferred the title sponsorship rights for the remaining two seasons of the contract to Chinese smartphone manufacturer Vivo for ₹ 200 crore (US$ 24 million). In June 2017, Vivo retained the rights for the next five seasons from 2018 to 2022 with

6300-749: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Indian Premier League The Indian Premier League (IPL) , also known as the TATA IPL for sponsorship reasons, is a men's Twenty20 (T20) cricket league held annually in India . Founded by the BCCI (the Board of Control for Cricket in India) in 2007, the league features ten state or city-based franchise teams. It

6400-522: The event. Other notable rules, as of the 2024 season, include: Player contracts run for one year but can be extended by one or two years if the franchises take up the option. Since the 2014 season, player contracts have been denominated in the Indian rupee , before which the contracts were in the US dollar . Overseas players can be remunerated in the currency of the player's choice, at the exchange rate on either

6500-403: The expansion of terminal handling capacity, the development of a second runway, and a new Air Traffic Control Tower (ATC) to boost capacity to levels that could potentially serve the needs for the next 2-3 decades of growth. GMR Hyderabad International Airport won the 'Golden Peacock Business Excellence Award 2017'. In April 2021, GMR Group announced the launch of GMR Hyderabad Airport City, which

6600-481: 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

6700-526: The franchise's players. The IPL has several rules which vary from the established Laws of cricket or those used in other Twenty20 (T20) leagues: As of the 2024 season, the league has ten teams based in cities across India. Present teams Former teams Suspended Chennai Super Kings and Mumbai Indians have each won five titles, the most in the tournament. Kolkata Knight Riders have won three titles, while Rajasthan Royals , Deccan Chargers , Sunrisers Hyderabad and Gujarat Titans have each won

6800-510: The franchises was held on 24 January 2008. The reserve prices for the eight franchises totalled $ 400 million, but the auction ultimately raised $ 723.59 million. The league officially commenced in April 2008, featuring Chennai Super Kings (CSK), Mumbai Indians (MI), Delhi Daredevils (DD), Kings XI Punjab (KXIP), Deccan Chargers (DC), Rajasthan Royals (RR), Kolkata Knight Riders (KKR), and Royal Challengers Bangalore (RCB). Following

6900-416: 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

7000-400: The highest-bidding franchise. Unsold players at the auction can become replacement signings. Trades require player consent, and any contract differences are covered by the franchise. There are typically three trading windows: two before the auction and one before the tournament. No trading is allowed outside these windows or during the tournament, but replacements can be signed before or during

7100-521: 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

7200-415: 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

7300-460: 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)

7400-474: 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 ,

7500-494: 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

7600-543: 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

7700-479: The most notable statistical records associated with the tournament is provided below: The Orange Cap is awarded to the highest run-scorer at the end of each season. It is an ongoing competition with the current highest-run scorer wearing the cap whilst fielding. The eventual winner keeps the cap for the season. Brendon McCullum was the first player to wear the Orange Cap and Shaun Marsh the inaugural winner of

7800-404: The player auction. The BCCI give 10% of foreign players' salaries to their country's national cricket board. Based on a 2024 report by Forbes India , the average IPL salary among the top 10 highest-paid players is ₹12.37 crore, the second-highest of sports leagues in the world. Because players in the IPL are contracted only for the duration of the tournament – less than two months –

7900-560: 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

8000-611: 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

8100-483: The second highest-valued sports media property worldwide, behind only the NFL , whose new media contracts taking effect in the 2023 season cumulatively fetched US$ 111 billion. In February 2023, Viacom18 announced it would stream the 2023 IPL for free on JioCinema with feeds in 12 languages, including English and regional languages, and in 4K resolution . The same month, The Walt Disney Company reported its loss of

8200-501: 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

8300-420: The success of the IPL, other Indian sports leagues have been established. In 2022, the league's brand value was estimated at ₹90,038 crore (US$ 11 billion). According to the BCCI, the 2015 IPL season contributed ₹1,150 crore (US$ 140 million) to India's GDP . In December 2022, the IPL achieved a valuation of US$ 10.9 billion, becoming a decacorn and registering a 75% growth in dollar terms since 2020 when it

8400-508: The title sponsors for the 2020 IPL for an amount of ₹ 222 crore (equivalent to ₹ 261 crore or US$ 31 million in 2023). Vivo returned as the title sponsor for the 2021 IPL season but withdrew again, and was replaced by the Tata Group for the next two seasons. InsideSport reported the BCCI would receive ₹ 498 crore (US$ 60 million) for the 2022 and 2023 seasons from title sponsors. Vivo had previously agreed to pay

8500-731: The tournament. The current champions are the Kolkata Knight Riders , who won the 2024 season after defeating the Sunrisers Hyderabad in the final . In 2007, Zee Entertainment Enterprises founded the Indian Cricket League (ICL). The ICL was not recognized by the Board of Control for Cricket in India (BCCI) or the International Cricket Council (ICC). Moreover, the BCCI was unhappy about its committee members joining

8600-460: The transmissions were limited to sports networks with English-language commentary. According to an independent report conducted by Brand Finance, a London-based company, after the conclusion of the 2017 Indian Premier League , the IPL's business value grew by 37% to an all-time peak of $ 5.3 billion, exceeding the five-billion-dollar mark for the first time in a season. According to the company's director Savio D'Souza: Now in its 11th season,

8700-505: The value of the 2018–2022 contract. The next day, it was announced that Star Sports had renewed its contract for television rights by winning package A, and that a Viacom18 consortium had exclusively acquired the streaming rights by winning both Package B and C. The two contracts for Package A and B are cumulatively valued at around US$ 6.2 billion; with the new contracts, the IPL overtook the Premier League in English football as

8800-518: The weekly IPL salaries are extrapolated pro data to obtain an average annual salary, unlike other sports leagues in which players are contracted by a single team for the entire year. According to a report by The Telegraph , IPL players are paid 18% of the revenue, which is the lowest amount compared to other major sports leagues, in which players receive at least 50% of the revenue. The Federation of International Cricketers' Associations said that IPL players must be paid fairly. The 2022 season of

8900-496: 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

9000-573: 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

9100-503: 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

9200-438: 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

9300-574: Was established at the Rajiv Gandhi International Airport, Shamshabad, Hyderabad in 2009. GMR started its Aviation Academy in Kochi, Kerala on 23 January 2023 at ASAP Community Skill Park, KINFRA, Kalamassery, Kochi. GMR Aviation was formed in 2006 to offer aircraft charter services and consultancy for business aviation. Apart from owning and managing its own fleet, GMR Aviation also manages aircraft of other business groups. GMR Engineering and Management Services (GEMS),

9400-637: Was established in 2008 as Delhi Daredevils (DD). The franchise is jointly owned by the GMR Group and JSW Group . In 2023, they also jointly bought a team in the Women's Premier League based in Delhi. UP Yoddha UP Yoddha (UPY) is a Kabaddi team based in Lucknow, Uttar Pradesh that plays in the Pro Kabaddi League . Seatlle Orcas The Seattle Orcas were founded in 2023 and compete in

9500-448: 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

9600-546: 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

9700-590: Was presented to the best under-19 player in 2008 and the best under-23 player in 2009 and 2010. In 2011 and 2012, the award was known as "Rising Star of the Year," and in 2013 the "Best Young Player of the Season." Since 2014, the award has been called the Emerging Player of the Year. Mustafizur Rahman is the only foreign player to win this award. The 2024 winner was Nitish Kumar Reddy . The Maximum Sixes Award

9800-480: Was scheduled to start in April 2008, commencing with a "high-profile ceremony" in New Delhi . BCCI Vice-president Lalit Modi , who led the IPL initiative, provided details of the tournament, including its format, prize money, franchise revenue system, and squad composition rules. The league, to be managed by a seven-man governing council, would also serve as the qualifying mechanism for that year's Champions League Twenty20 . To determine team ownership, an auction for

9900-513: 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

10000-409: Was valued at $ 6.2 billion, according to a report by the consulting firm D and P Advisory. Its 2023 final became the most streamed live event on the internet, with 32 million viewers. In 2023, the league sold its media rights for the next 4 seasons for US$ 6.4 billion to Viacom18 and Star Sports , meaning each IPL match was valued at $ 13.4 million. As of 2024, there have been seventeen seasons of

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