Business News

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U.S. economy plunges at titanic 32.9% rate in 2nd quarter and points to drawn-out recovery

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By Jeffry Bartash Coronavirus triggers steepest recession since World War Two The numbers: An economy badly battered by the coronavirus shrank at

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Moody’s downgrades Lebanon’s rating to C, as low as Venezuela

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New York – Moody’s Investors Service (“Moody’s”) has today downgraded the Government of Lebanon’s issuer rating to C from Ca,

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The rich are looking to buy access to COVID safe havens

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By Berber Jin, Bloomberg The next time the world’s rich are forced into lockdown, they would like to have an escape

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Salameh inflated BDL assets by over $6 bn to fund gov deficit

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BEIRUT – Lebanon’s central bank governor inflated the institution’s assets by over $6 billion in 2018, its audited annual accounts

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Lebanon Hyperinflates. A currency board system may be only way out

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By STEVE H. HANKE Yesterday will go down as a dark day in Lebanon’s history. That is when Lebanon was entered

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Mask of the Future: Designed by MIT as an affordable, N95 replacement

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By Cory Stieg At the beginning of the Covid-19 pandemic, the shortage of N95 respirator masks presented a dire situation for the

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Dubai expects expat exodus . About 900,000 jobs lost in the UAE

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Mustafa, a hipster Pakistani graphic artist, has a month to find a new job or be forced to leave Dubai

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Court orders seizure of Lebanon central bank chief’s assets

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A Lebanese court has ordered seizure of assets of central bank governor Riad Salameh. In a statement from the Ministry

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Hackers breach Twitter accounts of Biden, Obama, Gates, in Bitcoin scam

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A series of high-profile Twitter accounts were hijacked on Wednesday, with some of the platform’s top voices – including U.S. presidential candidate

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Alain Bifani arrives to deliver a news conference in Beirut

Bankers ‘smuggled’ $6bn out of Lebanon, Bifani reveals

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BY BRIN MATHEW  Bankers have “smuggled” as much as $6bn out of Lebanon since October, circumventing controls launched to stem

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