Post List Right Sidebar

Lebanon Faces a $50 Billion Hole Even Beyond Its Eurobonds

By: Paul Wallace.Bloomberg, Feb. 26, 2020

Lebanon has a lot more than just maturing Eurobonds to worry about.

In addition to $31 billion of those, the Middle Eastern nation’s central bank has $52.5 billion of obligations in the form of foreign-currency deposits and certificates of deposit, according to calculations by Toby Iles and Jan Friederich, Hong Kong-based analysts at Fitch Ratings Ltd.

Mostly owed to Lebanese banks, these additional liabilities compound the country’s woes as it grapples with its …

China’s passenger car sales tumble 92% in first half of Feb due to virus outbreak

The Business Times REUTERS, FEB. 21, 2020

Retail sales of China’s passenger car crumbled 92 per cent on an annual basis in the first 16 days of February, according to China Passenger Car Association (CPCA), as the coronavirus outbreak slammed the brakes on businesses across the country.

China’s passenger vehicle sales recorded 4,909 units in the first 16 days, down from 59,930 vehicles a year earlier, data from CPCA showed.

“Very few …

E.U. adds new sanctions on Syrian regime linked entities

Council of the European Union, Feb. 17, 2020

The Council has added eight prominent businessmen and two entities linked to those businessmen to the list of persons and entities subject to the sanctions against the Syrian regime and its supporters. Their activities directly benefited the Assad regime, including through projects located on lands expropriated from persons displaced by the conflict. The sanctions list now includes 277 persons and 71 entities targeted by a travel ban and an …

Factories Facing “Severe” Labor Shortages In China, U.S. Business Group Says

By: Russell FlanneryForbes, Feb. 17, 2020.

Some 78% of companies that participated in a new survey by the American Chamber of Commerce in Shanghai said they don’t have enough workers to run a full production line in the mainland.

Nearly half of the 109 companies — 48% of the total– from Shanghai, Suzhou, Nanjing and the Yangtze River Delta said their global supply chain operations have already impacted amid China’s …