Goldman asks: What if Lebanon is forced to restructure debt?

New York: Goldman Sachs Group Inc. still sees an imminent debt restructuring in Lebanon as unlikely but is already turning its attention to how much investors could recover as one of the world’s most indebted countries teeters on the brink of financial crisis. Under Goldman’s base scenario, foreign investors would recover 35 cents on the […]

World Bank cuts global growth forecast amid US-China trade conflict

Washington: Growth of the world economy is expected to slow as the US-China trade conflict takes its toll and undermines confidence, the World Bank said Tuesday in its semi-annual forecast. The World Bank cut the global GDP forecast to 2.9 per cent this year and 2.8 per cent in 2020, slightly below the previous forecast, […]

India emerges as Dubai’s second-largest investor in FDI capital

Dubai: As part of major push to boost foreign direct investment to Dubai, the emirate’s leading business entities in trade and investment, real estate and start-up development comprising more than 80 companies visited India recently as part of a delegation led by Dubai Investment Development Agency (Dubai FDI). The delegation held seminars and meetings in […]

More people are going broke in Canada as interest rates rise

Toronto: An increasing number of Canadians can’t meet their financial obligations, another sign rising borrowing costs are taking a toll on household balance sheets. The number of consumers seeking debt relief jumped 5.1 per cent to 11,320 in November from a year earlier, the Ottawa-based Office of the Superintendent of Bankruptcy reported on Jan. 4. […]

US-China trade talks continue for a second day, few details -source

BEIJING: The United States and China extended trade talks late into a second day in Beijing on Tuesday, a source with knowledge of the meetings said, as the world’s two largest economies looked to resolve a bitter trade dispute. The source confirmed to Reuters that the talks were “ongoing,” but few other details had emerged. […]

Ghosn rejects allegations in his first public court hearing

Tokyo: Former Nissan Motor Co. Chairman Carlos Ghosn rejected prosecutors’ claims of financial wrongdoing and pledged his loyalty to the company he led for more than a decade, as the fallen car titan faces an extended detention following his shock arrest in Japan almost two months ago. “I have been wrongly accused and unfairly detained […]