As legal proceedings continue in multiple jurisdictions, Ghosn’s story remains a cautionary tale about the intersections of business, politics, and justice in the global economy
economic crisis
Latest in economic crisis
Carlos Ghosn
Carlos Ghosn rules out career in Lebanese politics: ‘I’m not interested’
Despite ruling out a direct role in politics, Ghosn expressed willingness to assist in Lebanon’s economic recovery in an exclusive interview with Arabian Business
economic crisis
Egypt’s economy freefalls as experts look to lessons from Lebanon’s crisis
Egypt’s economic crisis deepens as reform delays pile on fiscal and debt pressures
economic crisis
Pakistan’s inflation soars to 28.3% in July amid economic crisis
The jump in inflation followed a 37.64% rise in the prices of fresh vegetables, 33.45 % in tomato prices and 17.90 % in fresh fruits prices
Amazon
Amazon shuts book selling arm after two decades
The company, which was acquired by Amazon in 2011, will stop operations on April 26
Beirut Rafik Hariri International Airport
Lebanon cancels $122mn Beirut airport terminal over ‘corruption’ scandal
Lebanon had announced the construction of a new terminal at Beirut’s airport last Monday, which was set to welcome about 3.5 million passengers annually by 2027
economic crisis
Rs272 per litre! Pakistan drops petrol bomb on inflation-hit masses
The price hike came hours after the Pakistan government unveiled a tax-loaded ‘mini-budget’ in the parliament to extract Rs170 billion
economic crisis
Pakistan to impose new taxes worth $797mn to comply with IMF conditions
The drafts are a bid to overcome the worst economic crisis in the country after Pakistan accepted IMF demands
Amazon
Amazon to fire more staff; total number of layoffs to rise to 18,000
Salesforce also announces 8,000 job cuts; Both companies blame their hiring spree during the pandemic and economic downturn as the reasons
covid-19
IMF hails UAE after handling aftermath of Covid-19 pandemic
Economic growth has been robust, led by a strong rebound in tourism and construction, while Expo 2020 and higher oil production has also helped
currency crisis
Lebanese go hungry as poverty rises amid economic failure: Report
The majority of people in Lebanon are unable to secure their social and economic rights
business leaders
UAE, Saudi bosses say 2023 will be a good year: Report
The report comprised of 250 business leaders from across the UAE and Saudi Arabia
c-suite executives
UAE CEOs most optimistic in the world, study reveals
86% of global CEOs expect an imminent economic downturn while 60% of UAE CEOs expect earnings to increase
Colombo
Sri Lanka’s Rajapaksa seeks help from UAE, Qatar, Saudi Arabia and Oman over nation’s crisis
Vowing to stay in office and complete his term, Rajapaksa hopes Gulf nations can support Sri Lanka with long-term oil supply
economic crisis
How to prepare for the next macroeconomic slowdown
2022 has been difficult for markets: rate volatility, losses in government bonds and high-quality credit. What’s next? Ariel Bezalel and Harry Richards share their views
budget deficit
Tunisia in talks with UAE, Saudi Arabia for funds, official says
An agreement may be reached soon, the head of financing and foreign transactions at the Tunisian regulator, Abdelkarim Lassoued, said
Bank deposits
How do negative interest rates work?
One of the tools being discussed as a way to deal with the economic damage of the coronavirus pandemic is negative interest rates. CNBC looks at whether we’ll ever be paid to borrow money.