CBA Newsletter -March (4)

How Businesses React from The War by Summer Woon As the world watches on TVs and smartphones, it's a natural thought for the business industries to want to help Ukraine in some way. Now, let us dive into some business field movements and the impacts while supporting the Ukraine. The Current Business Affairs Newsletter (March Issue) of The Business Students' Union, HKUSTSU is taking you on the journey of the businesses. The Great Business Retreat The Retreat in Oil Industry Since hundreds of the world's largest companies are Since the declaration of countries which will entirely ban quitting their operations in Russia, the companies have and reduce the import of Russian oil, panic has been to bear the economic impact on the company. Despite raised among the civilians as they will face rising energy the cost of abandoning significant investments and the and fuel bills due to this war. Europe has tried to ramp loss of business, there is a solid reputational incentive up using other energy sources, but it may possess some to withdraw as companies that fail to depart will face a difficulties due to the sudden adjustment by building wave of public resentment and potential boycott, new equipment and factories, which require a high cost. which will lead to dropping in sales. In reaction to the sanctions on Russian oil, the president After the retreat, it's undeniable that companies will of Russia would require “unfriendly countries” to pay have to keep still workers employed but no longer for Russian gas in rubles. The move was intended to generate significant local sales. Companies that force countries like the United States and Britain to prop operate under franchise agreements also have to face a up Russia’s currency, which crashed after sanctions situation they cannot control as they can't stop targeting Russia’s central bank effectively froze franchisees in other countries from selling what they hundreds of billions of dollars of assets. Whereas for have. Besides, the untangling of supply chains or companies importing Russian oil, exchanging other operations is another matter because they will have to currencies for rubles will be challenging given the try striking a balance between sending the right widespread financial sanctions imposed on Russia. corporate message but won't be stripping consumers of the essential goods they need.

The \"Pay, Don't Stay\" Movement There are also other Airbnb initiatives to help out refugees. Airbnb has announced that it was working with As the war continues, many people wonder what they its hosts to house up to 100,000 refugees fleeing can do to make a difference. The ongoing method for Ukraine. The stays are free for refugees and are funded people globally to help individuals in Ukraine by by Airbnb, donations from hosts, and donors to Airbnb. booking vacation spots through the rental lab, Airbnb. So, contributing to this cause is another way for donors Even though they have no intention of staying in these to help if booking with an individual host has some rooms, they would let the hosts know that they are not concerns. visiting and that these are solely direct donations. This method has succeeded in a way that it will be able to Your Feedback maintain the income stream of the Ukrainian by helping one family at the time. To facilitate the Your feedback will help a lot to improve our CBA helping process, Airbnb, which usually takes about 20 Newsletter, if you have any enquiries or suggestions, per cent of each booking, has waived its fees, so 100% please do not hesitate to contact The Executive of the money goes directly to Ukrainians in need. Committee of the Union through email by [email protected] or by mail to Mailbox #15, LG5 Student While the \"pay, don't stay\" movement has been widely Amenities, The Hong Kong University of Science and lauded as one of the most rapid and direct ways to Technology, Clear Water Bay, Kowloon, HK. help, some note the risk that scammers might take advantage of the generosity by creating fake listings. Sources : https://www.afar.com/magazine/are-ukraine-airbnb-rentals-helping- From the donor's perspective, those concerned about or-just-a-scam potential fraud can take steps such as looking to see if https://www.investmentmonitor.ai/special-focus/ukraine-crisis/russia- the host had been hosting for a while with multiple economy-departing-companies-invasion reviews that date back to before 2022.