As Beirut reels from the blast that killed more than 180 people and damaged thousands of homes in prime areas of the city, some buyers and real-estate brokers are seeking to exploit the devastation with cut-rate offers to buy property from distressed owners—deals that could ultimately reshape Beirut’s historic neighborhoods. Source link
Karren Madere and Andrea Knebel are both victims of the Covid-19 recession. Ms. Madere was laid off in June from her job at a travel-management company, where she negotiated hotel-room rates for corporate clients. Ms. Knebel was sent home in April from her job as a business consultant at an auto-parts factory. Ms. Madere, 61 … Read more
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link
JOHANNESBURG—South Africa’s $1.5 billion wine industry is reeling after a series of pandemic-induced shocks, including successive bans on the sale of alcohol totaling some 14 weeks. The country’s Chardonnays and Cabernet Sauvignons have become household staples world-wide, and wineries centered in the rolling farmlands around the Western Cape are among South Africa’s most successful and … Read more
Investors in Israel and the United Arab Emirates are moving to strike deals in a business environment transformed by a diplomatic breakthrough between the two countries. Last week’s surprise move by the U.A.E. to normalize relations with Israel in a U.S.-backed shift paves the way for establishing direct flights, opening telecommunications links, exploring joint ventures … Read more
MEXICO CITY—Millions of dollars obtained from foreign bribes during a presidential campaign. Bags of cash to lawmakers in exchange for approving a historic opening of Mexico’s oil industry. A former sitting president making deals with his favorite contractor to share the spoils of big government contracts. Those allegations by Emilio Lozoya, a disgraced former chief … Read more
TORONTO—A strike at Canada’s second-busiest port is showing few signs of progress deep into the second week of the walkout, as concerns rise about the damage an extended shutdown could do to the Canadian economy. The longshore workers’ union at the Port of Montreal has been agitating for better scheduling, arguing that workers who are … Read more
TEL AVIV—Talks between the U.S. and the United Arab Emirates on a potential sale of advanced F-35 jets is raising thorny questions for Israel’s security in the Middle East. The U.A.E. has long sought the jet fighters, and the deal last week to normalize diplomatic relations with Israel was forged with an understanding that the … Read more
Fighting between Islamic extremist rebels and Mozambique’s army over a key port is threatening to disrupt the East African nation’s burgeoning natural-gas developments, including a multibillion-dollar project led by French energy giant Total SA . The insurgent group, which is affiliated with Islamic State, seized control of the Mocimboa da Praia port this month and … Read more
The effect of the new national-security law that China imposed on Hong Kong is extending far beyond the territory to American college campuses. Classes at some elite universities will carry a warning label this fall: This course may cover material considered politically sensitive by China. And schools are weighing measures to try to shield students … Read more