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RIYADH: The launch of four special economic zones with incentives for international companies marks a milestone on Saudi Arabia’s path to becoming a global business and investment powerhouse.
DUBAI: A day before the second anniversary of the Aug. 4, 2020, Beirut port blast, the World Bank published a scathing report on Lebanon’s financial crisis and alleged acts of deception that appear to have made the country’s economic collapse inevitable. Entitled “Ponzi Finance?,” the report compares the Mediterranean country’s economic model since 1993 to a Ponzi scheme — an
DUBAI: Since Lebanon’s currency collapsed in October 2019 — thrusting the nation into its deepest economic crisis in recent memory — a growing number of its citizens have been forced to rely on private generators to power their homes. The alternative is to go without electricity for several hours every day. Earlier this month, Karpowership, a Turkish energy company responsible for around a quarter of Lebanon’s electricity supply, turned off its generators, claiming that the debt-burdened Lebanese government owed it millions of dollars in unpaid dues. Faisal Al-Sayegh, a Lebanese MP,...